Vivid Wealth Management LLC Has $2.81 Million Stock Position in Arista Networks, Inc. $ANET

Vivid Wealth Management LLC lowered its position in Arista Networks, Inc. (NYSE:ANET) by 21.7% during the third quarter, HoldingsChannel.com reports. The firm owned 19,249 shares of the technology company’s stock after selling 5,343 shares during the quarter. Arista Networks makes up approximately 1.1% of Vivid Wealth Management LLC’s holdings, making the stock its 29th largest holding. Vivid Wealth Management LLC’s holdings in Arista Networks were worth $2,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after buying an additional 1,136,167 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Arista Networks by 1.0% in the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock valued at $2,698,362,000 after acquiring an additional 263,272 shares during the last quarter. Geode Capital Management LLC grew its position in Arista Networks by 0.5% in the second quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after acquiring an additional 128,977 shares in the last quarter. Norges Bank acquired a new position in shares of Arista Networks during the 2nd quarter worth $1,228,177,000. Finally, Schroder Investment Management Group raised its holdings in shares of Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ANET. BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price on the stock in a research report on Thursday, September 25th. Barclays reiterated an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Piper Sandler raised 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. UBS Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research report on Monday, November 24th. Eighteen investment 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, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s 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 in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,464 shares of company stock valued at $28,488,988 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 0.4%

Shares of ANET stock opened at $123.34 on Tuesday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm’s fifty day simple moving average is $129.74 and its 200 day simple moving average is $132.31. The firm has a market capitalization of $155.32 billion, a P/E ratio of 46.90, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41.

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 the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $2.40 EPS. The business’s revenue was up 27.5% compared to the same quarter last year. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.