Arete Wealth Advisors LLC Buys 150 Shares of Arista Networks, Inc. (NYSE:ANET)

Arete Wealth Advisors LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 5.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,925 shares of the technology company’s stock after acquiring an additional 150 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Arista Networks were worth $407,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC acquired a new stake in shares of Arista Networks in the first quarter valued at $25,000. Riverview Trust Co acquired a new stake in shares of Arista Networks in the first quarter valued at $26,000. JJJ Advisors Inc. increased its stake in shares of Arista Networks by 300.0% in the fourth quarter. JJJ Advisors Inc. now owns 196 shares of the technology company’s stock valued at $28,000 after buying an additional 147 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Arista Networks in the first quarter valued at $28,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Arista Networks by 300.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the technology company’s stock valued at $29,000 after buying an additional 150 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 6,660 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $117.03, for a total value of $779,419.80. Following the sale, the director now owns 98,946 shares in the company, valued at approximately $11,579,650.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, Director Charles H. Giancarlo sold 6,660 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $117.03, for a total value of $779,419.80. Following the sale, the director now owns 98,946 shares in the company, valued at approximately $11,579,650.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $93.14, for a total value of $96,865.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 530,320 shares of company stock worth $54,800,753. Corporate insiders own 19.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ANET. Piper Sandler raised their target price on Arista Networks from $108.00 to $125.00 and gave the company a “neutral” rating in a research note on Tuesday. Credit Suisse Group lifted their price objective on Arista Networks from $178.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup lifted their price objective on Arista Networks from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC lifted their price objective on Arista Networks from $128.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Arista Networks from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.53.

Arista Networks Price Performance

NYSE:ANET opened at $126.68 on Friday. Arista Networks, Inc. has a fifty-two week low of $85.18 and a fifty-two week high of $148.57. The stock has a market capitalization of $38.55 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35. The business’s 50-day simple moving average is $101.91 and its 200-day simple moving average is $114.69.

Arista Networks (NYSE:ANETGet Rating) last released its earnings results on Monday, August 1st. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.78 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $979.66 million. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. On average, research analysts expect that Arista Networks, Inc. will post 3.48 earnings per share for the current year.

About Arista Networks

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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