Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 360.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,318 shares of the technology company’s stock after buying an additional 2,598 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Arista Networks were worth $367,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC lifted its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Finally, New Millennium Group LLC grew its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock valued at $39,364,943 in the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $72.53 on Friday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The business’s fifty day moving average is $89.54 and its 200-day moving average is $100.29. The stock has a market cap of $91.47 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler cut their price target on Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.50.

Arista Networks 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.