Northeast Investment Management Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Northeast Investment Management acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,195 shares of the technology company’s stock, valued at approximately $353,000.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Arista Networks by 12.5% in the 3rd quarter. CWM LLC now owns 17,931 shares of the technology company’s stock valued at $6,882,000 after buying an additional 1,989 shares during the period. Clarius Group LLC raised its holdings in Arista Networks by 13.4% during the third quarter. Clarius Group LLC now owns 1,343 shares of the technology company’s stock worth $514,000 after buying an additional 159 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Arista Networks by 6.0% during the third quarter. LVW Advisors LLC now owns 730 shares of the technology company’s stock valued at $280,000 after buying an additional 41 shares during the last quarter. Fermata Advisors LLC raised its holdings in shares of Arista Networks by 11.7% in the 3rd quarter. Fermata Advisors LLC now owns 1,070 shares of the technology company’s stock worth $411,000 after acquiring an additional 112 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Arista Networks by 31.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 31,780 shares of the technology company’s stock valued at $12,190,000 after acquiring an additional 7,514 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

ANET stock opened at $118.52 on Friday. The business’s 50-day moving average is $113.21 and its two-hundred day moving average is $99.81. The company has a market cap of $149.31 billion, a price-to-earnings ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANET. The Goldman Sachs Group raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Rosenblatt Securities raised their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Barclays dropped their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock valued at $28,538,497 in the last quarter. 3.54% of the stock is currently owned by insiders.

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.