Bell Investment Advisors Inc Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Bell Investment Advisors Inc grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 284.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 527 shares of the technology company’s stock after acquiring an additional 390 shares during the quarter. Bell Investment Advisors Inc’s holdings in Arista Networks were worth $58,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caitlin John LLC increased its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its stake 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 acquiring an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont raised its stake 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 acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC boosted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 411,001 shares of company stock worth $42,324,111. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $83.31 on Monday. The company has a market cap of $105.07 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The company has a 50-day simple moving average of $108.92 and a 200-day simple moving average of $102.18. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ANET. Barclays upped their target price on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

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.