44,000 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by one8zero8 LLC

one8zero8 LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 44,000 shares of the technology company’s stock, valued at approximately $4,863,000. Arista Networks makes up about 1.0% of one8zero8 LLC’s portfolio, making the stock its 19th largest holding.

A number of other institutional investors also recently bought and sold shares of ANET. Zions Bancorporation N.A. lifted its position in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in Arista Networks by 4.9% in the third quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock worth $1,697,000 after buying an additional 207 shares during the last quarter. Intellectus Partners LLC lifted its position in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares during the last quarter. CIBC Asset Management Inc increased its stake in Arista Networks by 9.3% in the third quarter. CIBC Asset Management Inc now owns 39,140 shares of the technology company’s stock worth $15,023,000 after purchasing an additional 3,322 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in Arista Networks by 52.0% in the third quarter. Valley Wealth Managers Inc. now owns 3,477 shares of the technology company’s stock worth $1,335,000 after purchasing an additional 1,190 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

ANET opened at $83.58 on Friday. The business’s 50-day moving average is $105.75 and its two-hundred day moving average is $101.82. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a market capitalization of $105.41 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (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 for the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 over the last quarter. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ANET shares. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note 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 assigned a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average price target 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.