Advisor Resource Council Acquires 5,866 Shares of Arista Networks, Inc. (NYSE:ANET)

Advisor Resource Council increased its position in Arista Networks, Inc. (NYSE:ANET) by 507.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,021 shares of the technology company’s stock after buying an additional 5,866 shares during the quarter. Advisor Resource Council’s holdings in Arista Networks were worth $1,653,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Purus Wealth Management LLC lifted its stake in Arista Networks by 0.5% during the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after acquiring an additional 43 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in Arista Networks by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,318 shares of the technology company’s stock valued at $426,000 after acquiring an additional 50 shares in the last quarter. Huntington National Bank lifted its stake in Arista Networks by 6.2% during the 3rd quarter. Huntington National Bank now owns 910 shares of the technology company’s stock valued at $167,000 after acquiring an additional 53 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in Arista Networks by 0.9% during the 3rd quarter. Hohimer Wealth Management LLC now owns 6,657 shares of the technology company’s stock valued at $1,224,000 after acquiring an additional 58 shares in the last quarter. Finally, Forum Financial Management LP raised its stake in shares of Arista Networks by 2.8% during the 3rd quarter. Forum Financial Management LP now owns 2,229 shares of the technology company’s stock worth $410,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 67.13% of the company’s stock.

Arista Networks Price Performance

ANET stock traded up $1.90 during mid-day trading on Friday, reaching $306.50. 2,379,755 shares of the company traded hands, compared to its average volume of 2,504,353. The company has a market capitalization of $95.82 billion, a P/E ratio of 46.64, a P/E/G ratio of 2.56 and a beta of 1.10. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The company has a fifty day moving average price of $271.39 and a 200-day moving average price of $230.27.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Arista Networks’s revenue was up 20.8% on a year-over-year basis. As a group, analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 670 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $247.46, for a total value of $165,798.20. Following the completion of the sale, the chief executive officer now owns 103,238 shares in the company, valued at approximately $25,547,275.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jayshree Ullal sold 670 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $247.46, for a total value of $165,798.20. Following the completion of the sale, the chief executive officer now owns 103,238 shares in the company, valued at approximately $25,547,275.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $234.00, for a total value of $243,360.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,084 shares of company stock valued at $66,443,191. 18.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ANET shares. Piper Sandler lifted their target price on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Rosenblatt Securities lifted their target price on Arista Networks from $230.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their target price on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.06.

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.