Pittenger & Anderson Inc. Increases Holdings in Arista Networks, Inc. $ANET

Pittenger & Anderson Inc. boosted its position in Arista Networks, Inc. (NYSE:ANET) by 33.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,204 shares of the technology company’s stock after buying an additional 27,708 shares during the period. Pittenger & Anderson Inc.’s holdings in Arista Networks were worth $16,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. AdvisorNet Financial Inc boosted its holdings in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares during the last quarter. Bare Financial Services Inc raised its position in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares in the last quarter. Finally, REAP Financial Group LLC increased its holdings in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $159.00 in a report on Monday, January 5th. UBS Group reiterated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Barclays reissued an “overweight” rating and issued a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research report on Monday, November 24th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.44.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the sale, the director directly owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This trade represents a 31.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock valued at $27,687,068 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Trading Down 1.4%

NYSE:ANET opened at $148.11 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market cap of $186.51 billion, a P/E ratio of 56.31, a P/E/G ratio of 2.53 and a beta of 1.41. The company’s 50-day moving average price is $130.50 and its 200-day moving average price is $134.85.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the company posted $2.40 EPS. On average, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.