Arista Networks, Inc. (NYSE:ANET) Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANETFree Report) by 43.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,521 shares of the technology company’s stock after purchasing an additional 768 shares during the quarter. CoreCap Advisors LLC’s holdings in Arista Networks were worth $594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in Arista Networks in the third quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new position in shares of Arista Networks during the third quarter worth approximately $29,000. Hollencrest Capital Management purchased a new position in shares of Arista Networks during the first quarter worth approximately $30,000. BluePath Capital Management LLC purchased a new position in shares of Arista Networks during the third quarter worth approximately $33,000. Finally, NBC Securities Inc. purchased a new position in shares of Arista Networks during the third quarter worth approximately $33,000. 67.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 21,000 shares of Arista Networks stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $289.06, for a total transaction of $6,070,260.00. Following the completion of the transaction, the chief executive officer now owns 1,674,300 shares of the company’s stock, valued at approximately $483,973,158. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jayshree Ullal sold 21,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $289.06, for a total value of $6,070,260.00. Following the completion of the transaction, the chief executive officer now owns 1,674,300 shares of the company’s stock, valued at approximately $483,973,158. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $230.28, for a total transaction of $460,560.00. Following the completion of the transaction, the director now directly owns 64,946 shares of the company’s stock, valued at approximately $14,955,764.88. The disclosure for this sale can be found here. Insiders sold 242,084 shares of company stock valued at $66,443,191 in the last 90 days. 18.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. The Goldman Sachs Group raised their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup lifted their price objective on shares of Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Barclays lifted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.06.

View Our Latest Research Report on Arista Networks

Arista Networks Stock Performance

Arista Networks stock opened at $305.58 on Tuesday. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The business has a fifty day moving average of $272.48 and a two-hundred day moving average of $231.50. The company has a market cap of $95.53 billion, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

Arista Networks (NYSE:ANETGet Free Report) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 6.63 EPS for the current year.

Arista Networks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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