Knights of Columbus Asset Advisors LLC Invests $1.11 Million in Arista Networks, Inc. (NYSE:ANET)

Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,709 shares of the technology company’s stock, valued at approximately $1,109,000.

Other institutional investors have also added to or reduced their stakes in the company. Sandy Spring Bank raised its holdings in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after buying an additional 41 shares during the last quarter. Purus Wealth Management LLC increased its position in Arista Networks by 0.5% during the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after buying an additional 43 shares in the last quarter. Congress Park Capital LLC raised its stake in Arista Networks by 0.6% during the fourth quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock valued at $1,823,000 after buying an additional 43 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in Arista Networks by 0.7% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,394 shares of the technology company’s stock worth $1,506,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Barclays raised their price target on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group boosted their price target on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Transactions at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on 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 SEC, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders have sold 334,227 shares of company stock valued at $95,828,875 in the last ninety days. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock opened at $246.09 on Monday. The firm’s 50 day moving average price is $280.29 and its 200-day moving average price is $245.38. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The stock has a market cap of $76.94 billion, a P/E ratio of 37.46, a PEG ratio of 2.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating 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 net margin of 35.62% and a return on equity of 31.44%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current year.

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.