Brown Lisle Cummings Inc. Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Brown Lisle Cummings Inc. raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 220.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 320 shares of the technology company’s stock after purchasing an additional 220 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Arista Networks were worth $35,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ANET. Cranbrook Wealth Management LLC grew its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after buying an additional 253 shares during the last quarter. Finally, Costello Asset Management INC raised its position in shares of Arista Networks by 300.0% during the 4th quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after buying an additional 225 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ANET. Wells Fargo & Company boosted their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Barclays dropped 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 0.3 %

ANET opened at $115.11 on Friday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a market capitalization of $145.01 billion, a P/E ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The stock’s fifty day moving average is $112.58 and its two-hundred day moving average is $99.48.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Arista Networks 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.