Arista Networks, Inc. (NYSE:ANET) Position Lifted by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 661.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,170 shares of the technology company’s stock after purchasing an additional 14,046 shares during the period. Lake Street Advisors Group LLC’s holdings in Arista Networks were worth $1,787,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ANET. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks in the fourth quarter worth $242,000. GHE LLC lifted its position in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after buying an additional 21,597 shares during the last quarter. Colonial River Investments LLC boosted its holdings in shares of Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares during the period. Silver Oak Securities Incorporated grew its position in shares of Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares during the last quarter. Finally, Proactive Wealth Strategies LLC raised its stake in Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after acquiring an additional 4,865 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ANET shares. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Trading Up 3.8 %

ANET stock opened at $96.43 on Thursday. The firm’s 50-day moving average is $112.54 and its two-hundred day moving average is $102.09. The company has a market capitalization of $121.61 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last announced its 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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Mccool sold 17,433 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the sale, the insider now directly owns 17,433 shares of the company’s stock, valued at approximately $1,623,709.62. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 416,008 shares of company stock valued at $44,854,958. Corporate insiders own 3.54% of the company’s stock.

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.