Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 94.8% during the fourth quarter, Holdings Channel reports. The firm owned 4,700 shares of the technology company’s stock after buying an additional 2,287 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Arista Networks were worth $519,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Zions Bancorporation N.A. raised its holdings in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its stake in shares of Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the last quarter. First Affirmative Financial Network grew its holdings in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after buying an additional 28 shares in the last quarter. Altman Advisors Inc. raised its position in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares during the last quarter. Finally, HM Payson & Co. grew its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 2.8 %

Shares of NYSE:ANET opened at $118.52 on Friday. The company has a 50 day moving average of $112.87 and a two-hundred day moving average of $99.58. 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 $149.31 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.41 EPS. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, equities analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on ANET shares. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, The Goldman Sachs Group boosted their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks 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 completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is currently owned by corporate insiders.

About Arista Networks

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.