Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Broadleaf Partners LLC

Broadleaf Partners LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 293.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,723 shares of the technology company’s stock after purchasing an additional 93,799 shares during the quarter. Arista Networks comprises approximately 3.2% of Broadleaf Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Broadleaf Partners LLC’s holdings in Arista Networks were worth $13,896,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Morse Asset Management Inc bought a new position in Arista Networks in the 3rd quarter valued at about $123,000. Virtu Financial LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth about $1,752,000. World Investment Advisors LLC acquired a new stake in shares of Arista Networks in the 3rd quarter worth approximately $401,000. Wilmington Savings Fund Society FSB bought a new position in shares of Arista Networks in the third quarter valued at approximately $2,222,000. Finally, Tidal Investments LLC increased its stake in shares of Arista Networks by 5.6% during the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock valued at $14,348,000 after acquiring an additional 1,998 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $71.11 on Friday. The firm has a 50 day simple moving average of $85.15 and a 200 day simple moving average of $99.44. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company has a market cap of $89.67 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during 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%. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,031 shares of company stock valued at $39,364,943. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ANET. Evercore ISI decreased their price target on Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday. Piper Sandler decreased their target price on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.07.

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.