Strengthening Families & Communities LLC Takes $3.30 Million Position in Arista Networks, Inc. $ANET

Strengthening Families & Communities LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, Holdings Channel reports. The firm acquired 22,649 shares of the technology company’s stock, valued at approximately $3,300,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ANET. Brighton Jones LLC boosted its holdings in Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC bought a new stake in Arista Networks during the fourth quarter worth approximately $202,000. Bison Wealth LLC acquired a new stake in Arista Networks in the 4th quarter valued at about $251,000. Sivia Capital Partners LLC increased its holdings in shares of Arista Networks by 48.4% in the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock valued at $1,097,000 after buying an additional 3,496 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Arista Networks in the 2nd quarter worth $134,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 2.4%

Shares of NYSE:ANET opened at $138.35 on Tuesday. The firm has a market cap of $174.22 billion, a price-to-earnings ratio of 52.60, a P/E/G ratio of 2.39 and a beta of 1.42. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The business has a fifty day simple moving average of $131.31 and a 200 day simple moving average of $135.65.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 EPS. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Morgan Stanley decreased their target price on 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 raised Arista Networks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.44.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was 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 $1,235,162.35. This trade represents a 70.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at $1,052,007. This represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 208,464 shares of company stock worth $26,430,108 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Company 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.