Larson Financial Group LLC Has $612,000 Position in Arista Networks, Inc. (NYSE:ANET)

Larson Financial Group LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 354.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,536 shares of the technology company’s stock after buying an additional 4,318 shares during the quarter. Larson Financial Group LLC’s holdings in Arista Networks were worth $612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Swedbank AB grew its position in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after acquiring an additional 5,034,022 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Arista Networks by 320.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,457,263 shares of the technology company’s stock worth $713,721,000 after acquiring an additional 4,919,882 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Arista Networks by 294.1% during the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after acquiring an additional 4,579,622 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ANET shares. The Goldman Sachs Group increased their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler restated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Activity

In related news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,001 shares of company stock valued at $42,324,111 in the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Down 1.2 %

Shares of NYSE:ANET opened at $83.31 on Monday. The stock has a market capitalization of $105.07 billion, a P/E ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The business has a 50-day moving average price of $108.92 and a two-hundred day moving average price of $102.18.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.