Corient Private Wealth LLC Has $33.60 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Corient Private Wealth LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 251.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 307,011 shares of the technology company’s stock after buying an additional 219,745 shares during the period. Corient Private Wealth LLC’s holdings in Arista Networks were worth $33,602,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the fourth quarter worth about $242,000. GHE LLC lifted its stake in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the last quarter. Colonial River Investments LLC boosted its position in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management bought a new stake in shares of Arista Networks during the fourth quarter worth $630,000. Finally, Silver Oak Securities Incorporated increased its holdings in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was 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 link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock worth $49,112,111 in the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $85.06 on Tuesday. The stock has a market capitalization of $107.27 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The stock’s 50 day moving average price is $105.07 and its two-hundred day moving average price is $101.92.

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 for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Citigroup lifted their price target 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. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.