Savant Capital LLC Acquires 4,334 Shares of Arista Networks, Inc. (NYSE:ANET)

Savant Capital LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 101.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,606 shares of the technology company’s stock after buying an additional 4,334 shares during the quarter. Savant Capital LLC’s holdings in Arista Networks were worth $2,027,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in shares of Arista Networks by 41.2% in the third quarter. Commonwealth Equity Services LLC now owns 90,691 shares of the technology company’s stock valued at $16,681,000 after purchasing an additional 26,472 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Arista Networks by 25.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,569 shares of the technology company’s stock valued at $7,646,000 after purchasing an additional 8,478 shares during the period. Pinnacle Associates Ltd. purchased a new stake in shares of Arista Networks in the third quarter valued at approximately $208,000. Raymond James & Associates boosted its holdings in shares of Arista Networks by 0.3% in the third quarter. Raymond James & Associates now owns 158,390 shares of the technology company’s stock valued at $29,133,000 after purchasing an additional 397 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Arista Networks by 16.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,642 shares of the technology company’s stock valued at $3,981,000 after purchasing an additional 3,005 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. Barclays upped their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Monday, January 8th. Finally, Piper Sandler increased their price objective on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $283.38.

Arista Networks Stock Up 2.6 %

ANET stock opened at $261.86 on Friday. The company’s 50-day simple moving average is $278.94 and its 200-day simple moving average is $248.71. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The firm has a market cap of $82.12 billion, a P/E ratio of 39.86, a PEG ratio of 2.19 and a beta of 1.13.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. On average, analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,514 shares of company stock valued at $95,369,397. 18.99% of the stock is owned by corporate insiders.

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.