Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,069 shares of the technology company’s stock after buying an additional 6,378 shares during the period. Commonwealth Equity Services LLC’s holdings in Arista Networks were worth $22,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. West Family Investments Inc. lifted its position in Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after purchasing an additional 40 shares during the period. Fisher Asset Management LLC boosted its stake in Arista Networks by 15.2% during the fourth quarter. Fisher Asset Management LLC now owns 8,134 shares of the technology company’s stock valued at $1,916,000 after buying an additional 1,075 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Arista Networks by 33.5% during the fourth quarter. First Trust Direct Indexing L.P. now owns 3,984 shares of the technology company’s stock worth $938,000 after acquiring an additional 1,000 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in Arista Networks by 13.8% in the 4th quarter. Great Valley Advisor Group Inc. now owns 18,386 shares of the technology company’s stock valued at $4,330,000 after acquiring an additional 2,236 shares during the last quarter. Finally, Win Advisors Inc. bought a new position in shares of Arista Networks during the 4th quarter valued at about $232,000. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Mccool sold 420 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Insiders sold 335,974 shares of company stock valued at $96,252,685 over the last quarter. Corporate insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of several recent research reports. JMP Securities reissued a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Piper Sandler boosted their target price on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and upped their target price for the company from $240.00 to $320.00 in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $285.53.

Arista Networks Price Performance

ANET opened at $274.40 on Monday. The company has a market capitalization of $85.79 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The business has a 50-day moving average of $279.07 and a 200-day moving average of $250.02.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 6.74 earnings per share for the current fiscal 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.