James J. Burns & Company LLC Has $610,000 Position in Arista Networks, Inc. (NYSE:ANET)

James J. Burns & Company LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,520 shares of the technology company’s stock after purchasing an additional 4,140 shares during the quarter. James J. Burns & Company LLC’s holdings in Arista Networks were worth $610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares during the last quarter. Swedbank AB lifted its holdings in shares of Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after buying an additional 236,151 shares during the last quarter. Jennison Associates LLC increased its position in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after purchasing an additional 492,615 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $115.43 on Thursday. The firm has a market cap of $145.41 billion, a P/E ratio of 55.49, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s fifty day moving average is $112.28 and its two-hundred day moving average is $99.36. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

ANET has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays lowered their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $105.83.

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.