Corient Private Wealth LLC Acquires 219,745 Shares of Arista Networks, Inc. (NYSE:ANET)

Corient Private Wealth LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 251.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 307,011 shares of the technology company’s stock after buying an additional 219,745 shares during the quarter. Corient Private Wealth LLC’s holdings in Arista Networks were worth $33,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its holdings in Arista Networks by 4.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock worth $1,697,000 after purchasing an additional 207 shares in the last quarter. Claro Advisors LLC boosted its position in shares of Arista Networks by 166.4% during the third quarter. Claro Advisors LLC now owns 1,569 shares of the technology company’s stock worth $602,000 after buying an additional 980 shares during the period. Aljian Capital Management LLC bought a new position in shares of Arista Networks during the third quarter worth about $235,000. Quest Partners LLC lifted its stake in Arista Networks by 149.2% in the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock valued at $1,112,000 after acquiring an additional 1,734 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Arista Networks during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 1.9 %

Arista Networks stock opened at $85.06 on Tuesday. The company’s 50-day moving average price is $105.07 and its two-hundred day moving average price is $101.92. The stock has a market cap of $107.27 billion, a P/E ratio of 38.32, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ANET. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $114.00.

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.