True North Advisors LLC Makes New $276,000 Investment in Arista Networks, Inc. (NYSE:ANET)

True North Advisors LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANETFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,174 shares of the technology company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in Arista Networks during the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks during the third quarter valued at about $29,000. Hollencrest Capital Management purchased a new position in shares of Arista Networks in the 1st quarter valued at approximately $30,000. BluePath Capital Management LLC acquired a new stake in Arista Networks in the 3rd quarter worth approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $292.97 on Monday. The company has a fifty day moving average of $276.42 and a two-hundred day moving average of $234.76. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a market capitalization of $91.59 billion, a PE ratio of 44.14, a P/E/G ratio of 2.50 and a beta of 1.09.

Arista Networks (NYSE:ANETGet Free Report) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $1.25 EPS. On average, research analysts expect that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler lifted their price target on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Rosenblatt Securities increased their price objective on Arista Networks from $230.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Check Out Our Latest Analysis on Arista Networks

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $230.28, for a total value of $460,560.00. Following the transaction, the director now directly owns 64,946 shares of the company’s stock, valued at approximately $14,955,764.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, Director Yvonne Wassenaar sold 186 shares of Arista Networks stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the transaction, the director now directly owns 2,678 shares in the company, valued at approximately $700,055.98. The sale was disclosed in a document filed 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 that occurred on Tuesday, January 2nd. The shares were sold at an average price of $230.28, for a total value of $460,560.00. Following the completion of the transaction, the director now directly owns 64,946 shares in the company, valued at approximately $14,955,764.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 309,084 shares of company stock worth $86,554,611. Insiders own 18.99% of the company’s stock.

Arista Networks Company 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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