Wealth Alliance Has $4.70 Million Position in Arista Networks, Inc. (NYSE:ANET)

Wealth Alliance boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 292.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,492 shares of the technology company’s stock after purchasing an additional 31,652 shares during the period. Arista Networks comprises 0.6% of Wealth Alliance’s portfolio, making the stock its 26th biggest holding. Wealth Alliance’s holdings in Arista Networks were worth $4,697,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. OLD National Bancorp IN boosted its stake in Arista Networks by 6.0% in the 3rd quarter. OLD National Bancorp IN now owns 1,087 shares of the technology company’s stock valued at $417,000 after buying an additional 62 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Arista Networks by 2.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,548 shares of the technology company’s stock valued at $1,362,000 after acquiring an additional 68 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Arista Networks by 16.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 540 shares of the technology company’s stock valued at $207,000 after purchasing an additional 77 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after purchasing an additional 31 shares during the last quarter. Finally, Vicus Capital acquired a new stake in shares of Arista Networks during the 3rd quarter worth about $211,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,944 shares of company stock valued at $30,214,186. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ANET shares. UBS Group boosted their price target on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI boosted 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. Citigroup raised their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Stock Down 6.5 %

Shares of ANET stock opened at $103.82 on Thursday. The firm has a market cap of $130.79 billion, a price-to-earnings ratio of 49.91, a PEG ratio of 2.87 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a 50-day moving average price of $114.08 and a 200 day moving average price of $101.54.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. Sell-side analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

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.