Triasima Portfolio Management inc. Acquires 61,833 Shares of Arista Networks, Inc. (NYSE:ANET)

Triasima Portfolio Management inc. boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 371.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 78,487 shares of the technology company’s stock after purchasing an additional 61,833 shares during the quarter. Arista Networks accounts for 1.7% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 15th biggest holding. Triasima Portfolio Management inc.’s holdings in Arista Networks were worth $8,675,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Brookstone Capital Management increased its stake in Arista Networks by 21.5% in the 3rd quarter. Brookstone Capital Management now owns 18,113 shares of the technology company’s stock valued at $6,952,000 after buying an additional 3,204 shares during the last quarter. CWM LLC increased its stake in shares of Arista Networks by 12.5% during the 3rd quarter. CWM LLC now owns 17,931 shares of the technology company’s stock worth $6,882,000 after purchasing an additional 1,989 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Arista Networks by 6.0% during the 3rd quarter. Wedmont Private Capital now owns 4,354 shares of the technology company’s stock worth $1,709,000 after purchasing an additional 245 shares during the last quarter. Perpetual Ltd increased its stake in shares of Arista Networks by 25.4% during the 3rd quarter. Perpetual Ltd now owns 5,703 shares of the technology company’s stock worth $2,189,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Sendero Wealth Management LLC increased its stake in shares of Arista Networks by 2.7% during the 3rd quarter. Sendero Wealth Management LLC now owns 27,241 shares of the technology company’s stock worth $10,456,000 after purchasing an additional 723 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now directly owns 288 shares of the company’s stock, valued at $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,832 shares of company stock valued at $28,538,497 in the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $115.11 on Friday. The firm has a fifty day moving average price of $112.87 and a two-hundred day moving average price of $99.58. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price target 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 raised their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Rosenblatt Securities lifted their price objective 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

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.