Robertson Stephens Wealth Management LLC Purchases 8,428 Shares of Arista Networks, Inc. (NYSE:ANET)

Robertson Stephens Wealth Management LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 305.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,188 shares of the technology company’s stock after acquiring an additional 8,428 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Arista Networks were worth $1,237,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ANET. Zions Bancorporation N.A. grew its stake in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. Intellectus Partners LLC grew its stake in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the last quarter. First Affirmative Financial Network grew its stake in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares during the last quarter. Altman Advisors Inc. grew its stake in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, HM Payson & Co. grew its stake in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 0.3 %

Shares of NYSE:ANET opened at $115.11 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s fifty day simple moving average is $112.58 and its 200 day simple moving average is $99.48. The firm has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock worth $28,538,497 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Rosenblatt Securities increased their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

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.