Thompson Davis & CO. Inc. Purchases 1,950 Shares of Arista Networks, Inc. (NYSE:ANET)

Thompson Davis & CO. Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,600 shares of the technology company’s stock after acquiring an additional 1,950 shares during the period. Thompson Davis & CO. Inc.’s holdings in Arista Networks were worth $287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of Arista Networks during the third quarter valued at $44,000. HM Payson & Co. increased its holdings in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC increased its holdings in shares of Arista Networks by 75.0% during the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after acquiring an additional 75 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ANET shares. Wells Fargo & Company raised their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,056 shares of company stock valued at $30,225,623 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $98.31 on Friday. The stock has a market capitalization of $123.84 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09. The stock’s 50-day simple moving average is $113.94 and its two-hundred day simple moving average is $101.57. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET) last announced its 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 analysts’ expectations of $1.90 billion. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal 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.