Clarity Wealth Advisors LLC Purchases 3,906 Shares of Arista Networks, Inc. (NYSE:ANET)

Clarity Wealth Advisors LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,208 shares of the technology company’s stock after purchasing an additional 3,906 shares during the period. Clarity Wealth Advisors LLC’s holdings in Arista Networks were worth $576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. CWM LLC lifted its stake in Arista Networks by 12.5% in the third quarter. CWM LLC now owns 17,931 shares of the technology company’s stock valued at $6,882,000 after buying an additional 1,989 shares in the last quarter. Perpetual Ltd boosted its stake in Arista Networks by 25.4% in the 3rd quarter. Perpetual Ltd now owns 5,703 shares of the technology company’s stock worth $2,189,000 after purchasing an additional 1,156 shares during the period. Private Advisory Group LLC increased its holdings in Arista Networks by 27.5% during the 3rd quarter. Private Advisory Group LLC now owns 3,055 shares of the technology company’s stock worth $1,172,000 after purchasing an additional 658 shares in the last quarter. Clarius Group LLC raised its stake in shares of Arista Networks by 13.4% in the 3rd quarter. Clarius Group LLC now owns 1,343 shares of the technology company’s stock valued at $514,000 after purchasing an additional 159 shares during the period. Finally, LVW Advisors LLC lifted its position in shares of Arista Networks by 6.0% in the third quarter. LVW Advisors LLC now owns 730 shares of the technology company’s stock worth $280,000 after purchasing an additional 41 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Arista Networks stock opened at $118.52 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The stock has a market capitalization of $149.31 billion, a price-to-earnings ratio of 56.98, a PEG ratio of 3.10 and a beta of 1.09. The business has a fifty day moving average price of $112.87 and a 200-day moving average price of $99.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ANET shares. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. 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 research report on Friday, November 8th. UBS Group raised their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities boosted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’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 transaction of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is owned by company 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.