Prime Capital Investment Advisors LLC Purchases 50,315 Shares of Arista Networks, Inc. $ANET

Prime Capital Investment Advisors LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 100.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,289 shares of the technology company’s stock after purchasing an additional 50,315 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Arista Networks were worth $14,613,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ANET. AdvisorNet Financial Inc raised its stake in shares of 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 in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares in the last quarter. Bare Financial Services Inc boosted its position in shares of Arista Networks by 2,118.2% during the 2nd 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. increased its stake in Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after acquiring an additional 235 shares during the period. Finally, Guerra Advisors Inc acquired a new position in Arista Networks in the third quarter worth about $41,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 3.4%

Arista Networks stock traded up $4.31 during mid-day trading on Friday, hitting $132.98. The stock had a trading volume of 845,462 shares, compared to its average volume of 8,208,256. The stock has a 50-day simple moving average of $131.66 and a two-hundred day simple moving average of $135.75. The stock has a market capitalization of $167.46 billion, a PE ratio of 50.63, a P/E/G ratio of 2.20 and a beta of 1.42. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

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

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 26,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total value of $3,339,180.00. Following the transaction, the insider owned 522,400 shares of the company’s stock, valued at approximately $67,091,832. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at $1,052,007. The trade was a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 216,464 shares of company stock valued at $27,553,548 in the last three months. 3.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ANET shares. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Barclays reiterated an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Finally, Morgan Stanley dropped their price objective on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.44.

About Arista Networks

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.