Arista Networks, Inc. (NYSE:ANET) Shares Bought by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 395.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,593 shares of the technology company’s stock after purchasing an additional 14,843 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Arista Networks were worth $2,072,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. Geneva Partners LLC raised its holdings in shares of Arista Networks by 298.5% in the 4th quarter. Geneva Partners LLC now owns 28,344 shares of the technology company’s stock worth $3,133,000 after purchasing an additional 21,232 shares during the period. Financial Advocates Investment Management increased its position in Arista Networks by 308.1% during the 4th quarter. Financial Advocates Investment Management now owns 3,261 shares of the technology company’s stock worth $360,000 after purchasing an additional 2,462 shares in the last quarter. Beacon Financial Advisory LLC raised its holdings in Arista Networks by 331.4% in the fourth quarter. Beacon Financial Advisory LLC now owns 2,761 shares of the technology company’s stock valued at $305,000 after buying an additional 2,121 shares during the period. State of Alaska Department of Revenue lifted its position in Arista Networks by 214.3% during the fourth quarter. State of Alaska Department of Revenue now owns 124,987 shares of the technology company’s stock valued at $13,814,000 after buying an additional 85,225 shares in the last quarter. Finally, Caitlin John LLC increased its position in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the transaction, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,832 shares of company stock worth $28,538,497 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 2.8 %

Shares of Arista Networks stock opened at $115.43 on Thursday. The business has a 50-day moving average price of $112.28 and a 200 day moving average price of $99.36. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm has a market cap of $145.41 billion, a P/E ratio of 55.49, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANET. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

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.