West Tower Group LLC Grows Stake in Arista Networks, Inc. (NYSE:ANET)

West Tower Group LLC grew its holdings 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 firm owned 2,000 shares of the technology company’s stock after buying an additional 1,500 shares during the quarter. West Tower Group LLC’s holdings in Arista Networks were worth $221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC lifted its stake in shares of Arista Networks by 149.2% in the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock valued at $1,112,000 after purchasing an additional 1,734 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Arista Networks during the 3rd quarter valued at approximately $44,000. OneAscent Wealth Management LLC bought a new position in Arista Networks during the 3rd quarter valued at approximately $337,000. Pathstone Holdings LLC increased its position in Arista Networks by 6.4% during the 3rd quarter. Pathstone Holdings LLC now owns 25,697 shares of the technology company’s stock valued at $9,863,000 after buying an additional 1,554 shares in the last quarter. Finally, Caprock Group LLC increased its position in Arista Networks by 24.8% during the 3rd quarter. Caprock Group LLC now owns 7,429 shares of the technology company’s stock valued at $2,851,000 after buying an additional 1,475 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Stock Down 1.3 %

Arista Networks stock opened at $83.96 on Wednesday. The business has a fifty day moving average of $104.44 and a two-hundred day moving average of $101.89. The firm has a market cap of $105.88 billion, a P/E ratio of 37.82, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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 firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’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 completion of the transaction, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. 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.