Jackson Wealth Management LLC Buys 3,644 Shares of Arista Networks, Inc. (NYSE:ANET)

Jackson Wealth Management LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 452.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,450 shares of the technology company’s stock after purchasing an additional 3,644 shares during the quarter. Jackson Wealth Management LLC’s holdings in Arista Networks were worth $492,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cranbrook Wealth Management LLC grew its holdings in 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 purchasing an additional 198 shares during the period. Trust Co. of Vermont lifted its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. New Millennium Group LLC boosted its stake in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Finally, Costello Asset Management INC raised its stake in Arista Networks by 300.0% in the 4th quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after acquiring an additional 225 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.83.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 0.3 %

ANET opened at $115.11 on Friday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The stock has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. The company has a 50-day simple moving average of $112.58 and a 200 day simple moving average of $99.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

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.