National Wealth Management Group LLC Acquires 3,446 Shares of Arista Networks, Inc. (NYSE:ANET)

National Wealth Management Group LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 252.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,812 shares of the technology company’s stock after purchasing an additional 3,446 shares during the quarter. National Wealth Management Group LLC’s holdings in Arista Networks were worth $532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI lifted its holdings in Arista Networks by 506.0% during the fourth quarter. National Bank of Canada FI now owns 1,129,767 shares of the technology company’s stock worth $124,881,000 after acquiring an additional 943,338 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Arista Networks by 292.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 45,440 shares of the technology company’s stock worth $5,309,000 after purchasing an additional 33,866 shares in the last quarter. Franklin Resources Inc. raised its holdings in Arista Networks by 303.5% during the 4th quarter. Franklin Resources Inc. now owns 3,952,415 shares of the technology company’s stock worth $436,860,000 after buying an additional 2,972,823 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Arista Networks by 336.4% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 165,263 shares of the technology company’s stock valued at $18,330,000 after buying an additional 127,396 shares during the period. Finally, Seven Mile Advisory increased its position in shares of Arista Networks by 284.3% during the fourth quarter. Seven Mile Advisory now owns 2,636 shares of the technology company’s stock worth $291,000 after acquiring an additional 1,950 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. 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 research report on Tuesday, December 17th. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. The trade was a 15.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $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 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 0.6 %

ANET stock opened at $77.48 on Tuesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The firm has a market cap of $97.71 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.10 and a beta of 1.08. The company’s 50-day moving average price is $98.31 and its two-hundred day moving average price is $101.83.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current 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.