Wealth Alliance Purchases 295 Shares of Arista Networks, Inc. (NYSE:ANET)

Wealth Alliance grew its position in Arista Networks, Inc. (NYSE:ANET) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,198 shares of the technology company’s stock after acquiring an additional 295 shares during the period. Wealth Alliance’s holdings in Arista Networks were worth $2,637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Guerra Pan Advisors LLC raised its position in Arista Networks by 74.8% in the 4th quarter. Guerra Pan Advisors LLC now owns 2,315 shares of the technology company’s stock worth $545,000 after purchasing an additional 991 shares during the last quarter. Keel Point LLC bought a new position in Arista Networks in the 4th quarter worth approximately $224,000. Mackenzie Financial Corp raised its position in Arista Networks by 4.8% in the 4th quarter. Mackenzie Financial Corp now owns 28,923 shares of the technology company’s stock worth $6,812,000 after purchasing an additional 1,331 shares during the last quarter. Dakota Wealth Management raised its position in Arista Networks by 53.9% in the 4th quarter. Dakota Wealth Management now owns 12,312 shares of the technology company’s stock worth $2,900,000 after purchasing an additional 4,313 shares during the last quarter. Finally, Conning Inc. bought a new position in Arista Networks in the 4th quarter worth approximately $243,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE ANET traded up $1.39 on Tuesday, reaching $264.59. The company had a trading volume of 1,383,974 shares, compared to its average volume of 2,444,349. The firm has a market capitalization of $82.72 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The company’s fifty day moving average is $281.58 and its 200-day moving average is $243.39.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. On average, research analysts forecast that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. Barclays upped their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Piper Sandler upped their target price on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Morgan Stanley upped their target price on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $275.59.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now directly owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The disclosure for this sale can be found here. Insiders have sold 361,036 shares of company stock valued at $102,813,921 in the last three months. 18.99% 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.