Axim Planning & Wealth Acquires Shares of 4,303 Arista Networks, Inc. $ANET

Axim Planning & Wealth bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the third quarter, Holdings Channel.com reports. The fund bought 4,303 shares of the technology company’s stock, valued at approximately $627,000. Arista Networks accounts for 0.5% of Axim Planning & Wealth’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors also recently modified their holdings of ANET. Brighton Jones LLC raised its holdings in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after buying an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Arista Networks during the fourth quarter worth about $202,000. Bison Wealth LLC bought a new stake in shares of Arista Networks during the fourth quarter worth about $251,000. Sivia Capital Partners LLC raised its holdings in shares of Arista Networks by 48.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Sax Wealth Advisors LLC bought a new position in Arista Networks in the 2nd quarter valued at about $245,000. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ANET shares. UBS Group reissued a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a report on Wednesday, December 3rd. Morgan Stanley decreased their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Barclays reiterated an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the company’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 value of $3,339,180.00. Following the completion of the transaction, the insider owned 522,400 shares in the company, valued at approximately $67,091,832. The trade was a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 216,464 shares of company stock worth $27,553,548. 3.39% of the stock is currently owned by company insiders.

Arista Networks Price Performance

NYSE ANET opened at $137.50 on Friday. The business’s fifty day moving average is $131.78 and its 200-day moving average is $135.93. The stock has a market capitalization of $173.15 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 2.17 and a beta of 1.42. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 earnings per share. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks 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.