National Wealth Management Group LLC Invests $1.30 Million in Arista Networks, Inc. $ANET

National Wealth Management Group LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the third quarter, HoldingsChannel reports. The fund bought 8,892 shares of the technology company’s stock, valued at approximately $1,296,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ANET. Bare Financial Services Inc grew its stake in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. boosted its position in shares of Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. REAP Financial Group LLC boosted its holdings in Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. UBS Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Morgan Stanley dropped their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Finally, Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $145.00 to $159.00 in a report on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the completion of the sale, the insider owned 522,400 shares of the company’s stock, valued at approximately $67,091,832. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the sale, the director owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This trade represents a 31.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,464 shares of company stock valued at $27,687,068 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $136.30 on Monday. The company’s fifty day moving average price is $128.62 and its two-hundred day moving average price is $134.12. The firm has a market capitalization of $171.64 billion, a P/E ratio of 51.82, a P/E/G ratio of 2.29 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $2.40 earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

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.