Rollins Financial Advisors LLC Acquires 4,053 Shares of Arista Networks, Inc. (NYSE:ANET)

Rollins Financial Advisors LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,404 shares of the technology company’s stock after purchasing an additional 4,053 shares during the quarter. Rollins Financial Advisors LLC’s holdings in Arista Networks were worth $597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caitlin John LLC increased its position in Arista Networks by 174.7% during 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 during the period. Capital Advisors Ltd. LLC grew its position in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont raised its position in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Finally, New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 5.8 %

Shares of NYSE ANET opened at $68.12 on Tuesday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The firm’s 50-day simple moving average is $93.37 and its 200 day simple moving average is $101.18. The company has a market cap of $85.91 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,001 shares of company stock worth $39,362,831 over the last 90 days. 3.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup raised their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.