Exencial Wealth Advisors LLC Purchases 50,072 Shares of Arista Networks, Inc. (NYSE:ANET)

Exencial Wealth Advisors LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 161.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,052 shares of the technology company’s stock after buying an additional 50,072 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Arista Networks were worth $8,959,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks in the 3rd quarter valued at about $44,000. True Wealth Design LLC increased its stake in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC lifted its position in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the period. Transcendent Capital Group LLC grew its holdings in shares of Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after purchasing an additional 75 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Arista Networks in the third quarter valued at about $69,000. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, Citigroup lifted their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $113.79.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Mccool sold 17,433 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total transaction of $1,683,504.81. The disclosure for this sale can be found here. Insiders have sold a total of 431,441 shares of company stock valued at $45,713,162 over the last ninety days. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

ANET stock opened at $85.74 on Tuesday. The company has a market capitalization of $108.13 billion, a P/E ratio of 38.62, a PEG ratio of 3.10 and a beta of 1.09. The company has a fifty day moving average price of $111.25 and a 200-day moving average price of $102.27. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal 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.