NWK Group Inc. Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

NWK Group Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 303.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,487 shares of the technology company’s stock after acquiring an additional 56,044 shares during the period. Arista Networks accounts for about 3.2% of NWK Group Inc.’s investment portfolio, making the stock its 13th largest holding. NWK Group Inc.’s holdings in Arista Networks were worth $8,233,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the fourth quarter worth approximately $242,000. GHE LLC increased its holdings in shares of Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Colonial River Investments LLC raised its stake in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management purchased a new stake in shares of Arista Networks during the fourth quarter valued at $630,000. Finally, Berkshire Capital Holdings Inc. increased its holdings in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after buying an additional 55,430 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 1.1 %

NYSE ANET opened at $71.11 on Friday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The stock has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.10 and a beta of 1.30. The company’s 50 day moving average is $84.23 and its two-hundred day moving average is $99.27.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ANET shares. Evercore ISI reduced their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Citigroup dropped their price target on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Piper Sandler dropped their target price on Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.07.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks 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 in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock worth $39,364,943 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

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.