Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 30.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 199 shares of the technology company’s stock after buying an additional 47 shares during the period. Larson Financial Group LLC’s holdings in Arista Networks were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. AXQ Capital LP acquired a new stake in shares of Arista Networks in the third quarter valued at about $791,000. Advisor Resource Council increased its position in Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 5,866 shares during the last quarter. Bleakley Financial Group LLC increased its position in Arista Networks by 4.6% during the fourth quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 194 shares during the last quarter. WCM Investment Management LLC increased its position in Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after purchasing an additional 16,081 shares during the last quarter. Finally, abrdn plc increased its position in Arista Networks by 62.7% during the fourth quarter. abrdn plc now owns 113,851 shares of the technology company’s stock worth $26,813,000 after purchasing an additional 43,889 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ANET shares. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Finally, Barclays lifted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 980 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $268.29, for a total transaction of $262,924.20. Following the completion of the sale, the chief executive officer now owns 73,051 shares in the company, valued at approximately $19,598,852.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 980 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $268.29, for a total transaction of $262,924.20. Following the sale, the chief executive officer now owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Insiders sold 333,494 shares of company stock worth $95,632,321 over the last 90 days. 18.99% of the stock is owned by insiders.

Arista Networks Stock Up 3.9 %

Shares of Arista Networks stock opened at $264.59 on Friday. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The company has a 50 day moving average of $279.04 and a 200 day moving average of $246.38. The company has a market capitalization of $82.72 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.15 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, research analysts anticipate that Arista Networks, Inc. will post 6.7 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.