Blue Bell Private Wealth Management LLC Has $179,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Blue Bell Private Wealth Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 297.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,616 shares of the technology company’s stock after purchasing an additional 1,209 shares during the quarter. Blue Bell Private Wealth Management LLC’s holdings in Arista Networks were worth $179,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ANET. Concurrent Investment Advisors LLC lifted its stake in shares of Arista Networks by 33.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,787 shares of the technology company’s stock valued at $1,070,000 after purchasing an additional 693 shares during the period. D.B. Root & Company LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at $216,000. Graypoint LLC lifted its stake in shares of Arista Networks by 5.8% in the 3rd quarter. Graypoint LLC now owns 1,974 shares of the technology company’s stock valued at $758,000 after purchasing an additional 109 shares during the period. Cozad Asset Management Inc. lifted its stake in shares of Arista Networks by 32.8% in the 3rd quarter. Cozad Asset Management Inc. now owns 1,080 shares of the technology company’s stock valued at $415,000 after purchasing an additional 267 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Arista Networks by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 339,556 shares of the technology company’s stock valued at $130,328,000 after purchasing an additional 29,006 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In related news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,289 shares of company stock worth $42,355,417 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Barclays raised their price objective on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

Shares of NYSE ANET opened at $83.31 on Friday. The stock has a market capitalization of $105.07 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 3.10 and a beta of 1.09. The business has a 50-day moving average of $108.92 and a 200-day moving average of $101.99. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.