Weinberger Asset Management Inc Has $447,000 Position in Arista Networks, Inc. (NYSE:ANET)

Weinberger Asset Management Inc grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,048 shares of the technology company’s stock after purchasing an additional 3,036 shares during the quarter. Weinberger Asset Management Inc’s holdings in Arista Networks were worth $447,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ANET. NorthCrest Asset Manangement LLC acquired a new position in Arista Networks in the third quarter worth $820,000. Arkadios Wealth Advisors lifted its stake in shares of Arista Networks by 63.1% during the third quarter. Arkadios Wealth Advisors now owns 2,303 shares of the technology company’s stock valued at $884,000 after acquiring an additional 891 shares during the period. PFG Investments LLC acquired a new position in shares of Arista Networks during the third quarter valued at $314,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Arista Networks by 78.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 81,933 shares of the technology company’s stock valued at $31,447,000 after acquiring an additional 36,111 shares during the period. Finally, Boston Trust Walden Corp acquired a new position in shares of Arista Networks during the third quarter valued at $210,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 260,056 shares of company stock valued at $30,225,623. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ANET. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group upped their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Price Performance

ANET stock opened at $92.61 on Tuesday. The stock has a market capitalization of $116.79 billion, a P/E ratio of 41.72, a P/E/G ratio of 3.10 and a beta of 1.09. The business has a 50-day moving average of $113.18 and a 200-day moving average of $102.07. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

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.