Counterpoint Mutual Funds LLC Makes New $267,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Counterpoint Mutual Funds LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,419 shares of the technology company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Signaturefd LLC lifted its holdings in Arista Networks by 297.6% in the 4th quarter. Signaturefd LLC now owns 22,549 shares of the technology company’s stock worth $2,492,000 after buying an additional 16,878 shares during the period. Parallel Advisors LLC lifted its holdings in Arista Networks by 318.5% in the 4th quarter. Parallel Advisors LLC now owns 42,016 shares of the technology company’s stock worth $4,644,000 after buying an additional 31,977 shares during the period. Cibc World Markets Corp lifted its holdings in Arista Networks by 363.7% in the 4th quarter. Cibc World Markets Corp now owns 164,555 shares of the technology company’s stock worth $18,188,000 after buying an additional 129,065 shares during the period. SouthState Corp lifted its holdings in Arista Networks by 300.0% in the 4th quarter. SouthState Corp now owns 3,604 shares of the technology company’s stock worth $398,000 after buying an additional 2,703 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Arista Networks by 284.3% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,952 shares of the technology company’s stock worth $216,000 after buying an additional 1,444 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ANET shares. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup increased their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,001 shares of company stock worth $49,112,111. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 1.3 %

Shares of ANET opened at $83.96 on Wednesday. The business’s fifty day simple moving average is $104.44 and its two-hundred day simple moving average is $101.89. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a market cap of $105.88 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued 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. 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 for the quarter, compared to the consensus estimate of $1.90 billion. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

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.