Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 361.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,655 shares of the technology company’s stock after purchasing an additional 25,579 shares during the period. Apollon Wealth Management LLC’s holdings in Arista Networks were worth $3,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Byrne Asset Management LLC acquired a new position in shares of Arista Networks in the fourth quarter valued at approximately $51,000. Apollon Financial LLC increased its holdings in shares of Arista Networks by 299.5% in the fourth quarter. Apollon Financial LLC now owns 3,188 shares of the technology company’s stock valued at $352,000 after purchasing an additional 2,390 shares during the period. Mezzasalma Advisors LLC grew its holdings in Arista Networks by 307.4% during the fourth quarter. Mezzasalma Advisors LLC now owns 100,661 shares of the technology company’s stock worth $11,126,000 after acquiring an additional 75,951 shares during the period. Conning Inc. grew its holdings in Arista Networks by 371.8% during the fourth quarter. Conning Inc. now owns 5,789 shares of the technology company’s stock worth $640,000 after acquiring an additional 4,562 shares during the period. Finally, Clarity Wealth Advisors LLC grew its holdings in Arista Networks by 300.0% during the fourth quarter. Clarity Wealth Advisors LLC now owns 5,208 shares of the technology company’s stock worth $576,000 after acquiring an additional 3,906 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Up 2.8 %

Shares of NYSE:ANET opened at $118.52 on Friday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock’s fifty day simple moving average is $113.21 and its 200-day simple moving average is $99.81. The company has a market capitalization of $149.31 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) 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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the business earned $0.41 earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is owned by company insiders.

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.