Gallacher Capital Management LLC Has $576,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Gallacher Capital Management LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 297.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,211 shares of the technology company’s stock after buying an additional 3,901 shares during the period. Gallacher Capital Management LLC’s holdings in Arista Networks were worth $576,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ANET. Zions Bancorporation N.A. increased its position in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC lifted its position in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the last quarter. Altman Advisors Inc. raised its stake in Arista Networks by 0.5% during the 3rd 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. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its holdings in Arista Networks by 2.3% in the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after acquiring an additional 36 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective 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. Piper Sandler restated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Up 4.3 %

NYSE:ANET opened at $83.58 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The business has a 50 day moving average price of $105.75 and a two-hundred day moving average price of $101.82. The company has a market cap of $105.41 billion, a P/E ratio of 37.65, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 over the last three months. Insiders own 3.54% of the company’s stock.

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.