BlueChip Wealth Advisors LLC Has $253,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

BlueChip Wealth Advisors LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 93.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,292 shares of the technology company’s stock after acquiring an additional 1,106 shares during the period. BlueChip Wealth Advisors LLC’s holdings in Arista Networks were worth $253,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Finally, New Millennium Group LLC increased its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

Arista Networks stock opened at $77.91 on Friday. The business has a 50 day simple moving average of $99.16 and a 200 day simple moving average of $101.66. The company has a market capitalization of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last issued 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. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Piper Sandler restated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

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.