Financial Security Advisor Inc. Grows Stock Position in Arista Networks, Inc. (NYSE:ANET)

Financial Security Advisor Inc. grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 304.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,288 shares of the technology company’s stock after purchasing an additional 2,476 shares during the period. Financial Security Advisor Inc.’s holdings in Arista Networks were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ANET. PFG Investments LLC acquired a new position in Arista Networks in the 3rd quarter worth $314,000. abrdn plc increased its position in shares of Arista Networks by 4.8% during the third quarter. abrdn plc now owns 113,146 shares of the technology company’s stock worth $43,197,000 after acquiring an additional 5,218 shares during the last quarter. Strategic Blueprint LLC acquired a new position in shares of Arista Networks in the third quarter worth about $266,000. Mutual Advisors LLC boosted its holdings in Arista Networks by 13.1% in the third quarter. Mutual Advisors LLC now owns 5,154 shares of the technology company’s stock valued at $2,039,000 after purchasing an additional 595 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Arista Networks by 4.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,766 shares of the technology company’s stock valued at $2,597,000 after purchasing an additional 300 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Barclays lifted their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upped their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 416,008 shares of company stock valued at $44,854,958. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Down 5.1 %

Shares of ANET stock opened at $91.50 on Friday. The company has a market cap of $115.40 billion, a P/E ratio of 41.22, a PEG ratio of 3.10 and a beta of 1.09. The business has a 50 day moving average of $112.19 and a two-hundred day moving average of $102.02. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

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.