Simplicity Wealth LLC Acquires 2,254 Shares of Arista Networks, Inc. (NYSE:ANET)

Simplicity Wealth LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 368.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,865 shares of the technology company’s stock after buying an additional 2,254 shares during the quarter. Simplicity Wealth LLC’s holdings in Arista Networks were worth $317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation N.A. raised its position in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC raised its position in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the last quarter. Altman Advisors Inc. raised its position in 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 purchasing an additional 28 shares during the last quarter. Anchor Investment Management LLC raised its position in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its position in Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after purchasing an additional 36 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ANET. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’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 value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $77.53 on Tuesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The business has a 50 day simple moving average of $108.24 and a 200 day simple moving average of $102.10. The stock has a market capitalization of $97.77 billion, a P/E ratio of 34.92, a P/E/G ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.