Motley Fool Asset Management LLC Acquires 50,855 Shares of Arista Networks, Inc. (NYSE:ANET)

Motley Fool Asset Management LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 357.3% in the fourth quarter, HoldingsChannel reports. The fund owned 65,087 shares of the technology company’s stock after purchasing an additional 50,855 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Arista Networks were worth $7,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Benjamin Edwards Inc. raised its stake in shares of Arista Networks by 12,994.4% in the third quarter. Benjamin Edwards Inc. now owns 11,785 shares of the technology company’s stock worth $4,523,000 after buying an additional 11,695 shares during the period. Hilltop Holdings Inc. purchased a new stake in Arista Networks in the 3rd quarter worth approximately $1,153,000. Janus Henderson Group PLC raised its stake in Arista Networks by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 357,064 shares of the technology company’s stock worth $137,004,000 after acquiring an additional 2,851 shares during the period. IHT Wealth Management LLC lifted its holdings in Arista Networks by 94.0% during the third quarter. IHT Wealth Management LLC now owns 13,399 shares of the technology company’s stock valued at $5,132,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in shares of Arista Networks in the third quarter worth approximately $123,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ANET. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 483,001 shares of company stock worth $48,220,031 over the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 2.3 %

Shares of NYSE:ANET opened at $80.31 on Thursday. The company has a market cap of $101.28 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a 50-day moving average price of $96.46 and a 200 day moving average price of $101.60.

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

Arista Networks Company 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.