Arista Networks, Inc. (NYSE:ANET) Stock Position Boosted by Larson Financial Group LLC

Larson Financial Group LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 354.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,536 shares of the technology company’s stock after buying an additional 4,318 shares during the period. Larson Financial Group LLC’s holdings in Arista Networks were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ANET. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks during the third quarter worth approximately $44,000. True Wealth Design LLC increased its position in shares of Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC increased 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 purchasing an additional 35 shares during the period. Transcendent Capital Group LLC raised its stake in shares of Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Arista Networks by 52.5% in the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after buying an additional 63 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,001 shares of company stock valued at $42,324,111. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ANET shares. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Down 1.2 %

NYSE:ANET opened at $83.31 on Monday. The company’s 50 day moving average is $108.92 and its 200-day moving average is $102.18. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm has a market cap of $105.07 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08.

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

Arista Networks 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.