Exencial Wealth Advisors LLC Acquires 50,072 Shares of Arista Networks, Inc. (NYSE:ANET)

Exencial Wealth Advisors LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 161.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,052 shares of the technology company’s stock after buying an additional 50,072 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Arista Networks were worth $8,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ANET. Stock Yards Bank & Trust Co. bought a new position in Arista Networks during the fourth quarter worth about $242,000. GHE LLC raised its position in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC boosted its stake in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new position in Arista Networks during the fourth quarter valued at approximately $630,000. Finally, Silver Oak Securities Incorporated increased its stake in Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup boosted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group raised their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Price Performance

Arista Networks stock opened at $85.74 on Tuesday. The company has a market cap of $108.13 billion, a price-to-earnings ratio of 38.62, a P/E/G ratio of 3.10 and a beta of 1.09. The firm has a 50-day moving average of $111.25 and a 200-day moving average of $102.27. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.14, for a total value of $1,623,709.62. Following the sale, the insider now directly owns 17,433 shares of the company’s stock, valued at $1,623,709.62. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 431,441 shares of company stock worth $45,713,162. Insiders own 3.54% of the company’s stock.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.