Valley Wealth Managers Inc. Buys 11,807 Shares of Arista Networks, Inc. (NYSE:ANET)

Valley Wealth Managers Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 339.6% in the 4th quarter, HoldingsChannel reports. The firm owned 15,284 shares of the technology company’s stock after acquiring an additional 11,807 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Arista Networks were worth $1,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks during the fourth quarter worth about $242,000. Silver Oak Securities Incorporated increased its position in shares of Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of Arista Networks by 292.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after acquiring an additional 449,088 shares in the last quarter. 5T Wealth LLC purchased a new position in Arista Networks during the fourth quarter worth about $1,046,000. Finally, CENTRAL TRUST Co boosted its holdings in Arista Networks by 475.5% during the fourth quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock worth $462,000 after purchasing an additional 3,457 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 3.9 %

Shares of ANET stock opened at $111.05 on Wednesday. The stock has a market capitalization of $139.89 billion, a P/E ratio of 53.39, a PEG ratio of 3.10 and a beta of 1.09. The firm’s 50 day moving average is $113.95 and its 200 day moving average is $101.32. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. On average, equities analysts predict that Arista Networks, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays cut their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 337,320 shares of company stock worth $37,946,706. 3.54% of the stock is owned by corporate insiders.

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.