Arista Networks, Inc. (NYSE:ANET) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its stake in Arista Networks, Inc. (NYSE:ANET) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,675 shares of the technology company’s stock after selling 161 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Arista Networks were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in shares of Arista Networks during the third quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $29,000. BluePath Capital Management LLC acquired a new stake in shares of Arista Networks in the 3rd quarter valued at $33,000. NBC Securities Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth $33,000. Finally, Atticus Wealth Management LLC increased its holdings in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after buying an additional 145 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Down 0.0 %

Shares of NYSE:ANET opened at $264.70 on Monday. The business has a fifty day simple moving average of $279.09 and a 200-day simple moving average of $247.61. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The company has a market cap of $83.01 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of several analyst reports. Morgan Stanley upped their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. 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 report on Tuesday, February 13th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Insider Activity

In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 224 shares of the firm’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 owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Insiders sold 332,514 shares of company stock valued at $95,369,397 in the last ninety days. Company insiders own 18.99% of the company’s stock.

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.