L & S Advisors Inc Buys 15,924 Shares of Arista Networks, Inc. (NYSE:ANET)

L & S Advisors Inc grew its position in Arista Networks, Inc. (NYSE:ANET) by 259.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,053 shares of the technology company’s stock after acquiring an additional 15,924 shares during the period. L & S Advisors Inc’s holdings in Arista Networks were worth $2,438,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. MV Capital Management Inc. boosted its stake in shares of Arista Networks by 300.0% during the fourth quarter. MV Capital Management Inc. now owns 1,396 shares of the technology company’s stock valued at $154,000 after purchasing an additional 1,047 shares in the last quarter. BlueChip Wealth Advisors LLC raised its holdings in Arista Networks by 93.3% in the 4th quarter. BlueChip Wealth Advisors LLC now owns 2,292 shares of the technology company’s stock valued at $253,000 after buying an additional 1,106 shares during the last quarter. Strategy Asset Managers LLC boosted its position in Arista Networks by 287.6% during the 4th quarter. Strategy Asset Managers LLC now owns 6,864 shares of the technology company’s stock worth $759,000 after buying an additional 5,093 shares during the period. Allianz SE bought a new stake in Arista Networks during the 4th quarter worth approximately $5,157,000. Finally, Transamerica Financial Advisors Inc. increased its position in Arista Networks by 288.3% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 65,959 shares of the technology company’s stock valued at $7,291,000 after acquiring an additional 48,973 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Piper Sandler restated a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One equities research 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. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

ANET stock opened at $77.91 on Friday. The company’s 50-day moving average is $99.16 and its 200-day moving average is $101.80. The stock has a market capitalization of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 in the last ninety days. 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.