4,303 Shares in Arista Networks, Inc. $ANET Acquired by Axim Planning & Wealth

Axim Planning & Wealth acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,303 shares of the technology company’s stock, valued at approximately $627,000. Arista Networks comprises about 0.5% of Axim Planning & Wealth’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. Vanguard Group Inc. grew its position in Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after acquiring an additional 1,136,167 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Arista Networks by 1.0% during the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock valued at $2,698,362,000 after purchasing an additional 263,272 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Arista Networks by 0.5% during the second quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after purchasing an additional 128,977 shares during the last quarter. Norges Bank acquired a new position in shares of Arista Networks in the second quarter valued at approximately $1,228,177,000. Finally, Schroder Investment Management Group increased its stake in shares of Arista Networks by 14.8% in the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after buying an additional 1,350,593 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 216,464 shares of company stock valued at $27,553,548. Company insiders own 3.39% of the company’s stock.

Arista Networks Trading Up 6.9%

Shares of ANET opened at $137.50 on Friday. The firm’s fifty day simple moving average is $131.78 and its two-hundred day simple moving average is $135.93. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market capitalization of $173.15 billion, a P/E ratio of 52.28, a price-to-earnings-growth ratio of 2.17 and a beta of 1.42.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business earned $2.40 EPS. The firm’s revenue was up 27.5% compared to the same quarter last year. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

ANET has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a report on Monday, November 24th. UBS Group restated a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a report on Wednesday, December 3rd. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Finally, Morgan Stanley reduced their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.