Tradewinds Capital Management LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Tradewinds Capital Management LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 312 shares of the technology company’s stock after purchasing an additional 234 shares during the period. Tradewinds Capital Management LLC’s holdings in Arista Networks were worth $34,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of Arista Networks during the third quarter valued at approximately $44,000. HM Payson & Co. increased its stake in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC increased its stake in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the last quarter. Finally, Transcendent Capital Group LLC increased its stake in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ANET shares. Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday. Finally, Barclays boosted their price target on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Trading Down 4.9 %

Shares of Arista Networks stock opened at $98.31 on Friday. The company’s 50-day moving average price is $113.66 and its two-hundred day moving average price is $101.85. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a market cap of $123.97 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate 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%. On average, equities analysts predict that Arista Networks, Inc. will post 2.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 260,056 shares of company stock worth $30,225,623. Company insiders own 3.54% of the company’s stock.

Arista Networks Company 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.