Clarity Wealth Advisors LLC Acquires 100 Shares of Arista Networks, Inc. (NYSE:ANET)

Clarity Wealth Advisors LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 8.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,312 shares of the technology company’s stock after buying an additional 100 shares during the period. Clarity Wealth Advisors LLC’s holdings in Arista Networks were worth $309,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after acquiring an additional 84,212 shares during the last quarter. FMR LLC raised its position in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. State Street Corp raised its position in shares of Arista Networks by 2.9% during the second quarter. State Street Corp now owns 10,280,987 shares of the technology company’s stock worth $1,666,137,000 after acquiring an additional 289,064 shares during the last quarter. Capital World Investors raised its position in shares of Arista Networks by 68.8% during the second quarter. Capital World Investors now owns 9,819,327 shares of the technology company’s stock worth $1,591,320,000 after acquiring an additional 4,002,359 shares during the last quarter. Finally, Morgan Stanley grew its stake in Arista Networks by 162.2% during the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the period. 67.13% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

NYSE:ANET traded up $11.59 during mid-day trading on Monday, reaching $289.32. The stock had a trading volume of 3,837,058 shares, compared to its average volume of 2,431,579. The firm has a 50 day moving average price of $268.56 and a two-hundred day moving average price of $228.65. The stock has a market capitalization of $90.45 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.44 and a beta of 1.10. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $292.66.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 6.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. KeyCorp raised their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Piper Sandler raised their price objective on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Citigroup raised their price objective on Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.38.

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.52, for a total value of $573,040.00. Following the sale, the director now directly owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 670 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $247.46, for a total value of $165,798.20. Following the transaction, the chief executive officer now owns 103,238 shares of the company’s stock, valued at $25,547,275.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 approximately $17,462,247.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,666 shares of company stock valued at $30,351,719. Company insiders own 18.99% of the company’s stock.

Arista Networks Company Profile

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.