Weinberger Asset Management Inc Has $447,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Weinberger Asset Management Inc boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,048 shares of the technology company’s stock after buying an additional 3,036 shares during the quarter. Weinberger Asset Management Inc’s holdings in Arista Networks were worth $447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ANET. NorthCrest Asset Manangement LLC acquired a new stake in Arista Networks during the third quarter valued at $820,000. Arkadios Wealth Advisors lifted its holdings in shares of Arista Networks by 63.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,303 shares of the technology company’s stock valued at $884,000 after buying an additional 891 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $314,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Arista Networks by 78.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 81,933 shares of the technology company’s stock valued at $31,447,000 after buying an additional 36,111 shares during the last quarter. Finally, Boston Trust Walden Corp acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $210,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Down 5.8 %

ANET opened at $92.61 on Tuesday. The stock has a market cap of $116.79 billion, a PE ratio of 41.72, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The stock’s 50 day simple moving average is $113.18 and its 200-day simple moving average is $102.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings data 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 business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANET. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Barclays lifted their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Citigroup lifted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, UBS Group raised their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,056 shares of company stock worth $30,225,623. Company insiders own 3.54% of the company’s stock.

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.