Sycomore Asset Management Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Sycomore Asset Management acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the technology company’s stock, valued at approximately $2,377,000.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC bought a new position in shares of Arista Networks in the 3rd quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new position in shares of Arista Networks in the 3rd quarter valued at approximately $33,000. NBC Securities Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at approximately $33,000. Finally, Atticus Wealth Management LLC increased its position in Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on ANET shares. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Wells Fargo & Company lifted their price target on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Piper Sandler lifted their price target on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lifted their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. Insiders have sold a total of 334,227 shares of company stock valued at $95,828,875 in the last 90 days. 18.99% of the stock is owned by corporate insiders.

Arista Networks Trading Up 1.4 %

ANET stock traded up $3.58 during trading on Wednesday, hitting $254.76. The company had a trading volume of 2,593,104 shares, compared to its average volume of 2,469,119. The company has a fifty day moving average price of $279.08 and a two-hundred day moving average price of $246.25. The company has a market cap of $79.65 billion, a P/E ratio of 38.78, a P/E/G ratio of 2.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating 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 return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, analysts expect that Arista Networks, Inc. will post 6.7 earnings per share 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.