Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its position in Arista Networks, Inc. (NYSE:ANETFree Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,684 shares of the technology company’s stock after purchasing an additional 68 shares during the quarter. Ritholtz Wealth Management’s holdings in Arista Networks were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ANET. Larson Financial Group LLC acquired a new position in Arista Networks in the 3rd quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the 3rd quarter valued at $29,000. Hollencrest Capital Management acquired a new position in Arista Networks in the 1st quarter valued at $30,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the 3rd quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks in the 3rd quarter valued at $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $299.75 on Tuesday. The business has a 50-day moving average of $276.42 and a 200 day moving average of $235.09. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a market capitalization of $93.71 billion, a price-to-earnings ratio of 45.62, a price-to-earnings-growth 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 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business posted $1.25 EPS. Arista Networks’s revenue for the quarter was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 670 shares of Arista Networks stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $247.46, for a total value of $165,798.20. Following the completion of the transaction, the chief executive officer now owns 103,238 shares in the company, valued at approximately $25,547,275.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 670 shares of Arista Networks stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $247.46, for a total value of $165,798.20. Following the completion of the transaction, the chief executive officer now owns 103,238 shares of the company’s stock, valued at approximately $25,547,275.48. The disclosure for this sale can be found here. Insiders sold 305,628 shares of company stock worth $85,753,347 in the last three months. 18.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ANET has been the subject of a number of recent research reports. Barclays raised their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group raised their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company raised their target price on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Piper Sandler raised their target price on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Check Out Our Latest Research Report on Arista Networks

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.

Further Reading

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

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