Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 319.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the technology company’s stock after purchasing an additional 7,615 shares during the period. Moors & Cabot Inc.’s holdings in Arista Networks were worth $1,105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ANET. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Down 0.2 %

Arista Networks stock opened at $80.11 on Friday. The firm has a market capitalization of $101.02 billion, a P/E ratio of 36.08, a P/E/G ratio of 3.10 and a beta of 1.08. The stock’s fifty day simple moving average is $106.38 and its 200-day simple moving average is $101.73. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

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

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last quarter. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Citigroup boosted 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. Finally, Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.