Arista Networks, Inc. (NYSE:ANET) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 285.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,882 shares of the technology company’s stock after acquiring an additional 14,724 shares during the quarter. D.A. Davidson & CO.’s holdings in Arista Networks were worth $2,198,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Empower Advisory Group LLC raised its stake in Arista Networks by 301.4% during the fourth quarter. Empower Advisory Group LLC now owns 11,800 shares of the technology company’s stock worth $1,304,000 after purchasing an additional 8,860 shares during the period. Truist Financial Corp raised its stake in shares of Arista Networks by 1,399.4% in the 4th quarter. Truist Financial Corp now owns 413,154 shares of the technology company’s stock valued at $45,666,000 after acquiring an additional 385,599 shares during the period. CIBC Asset Management Inc raised its stake in shares of Arista Networks by 318.9% in the 4th quarter. CIBC Asset Management Inc now owns 163,975 shares of the technology company’s stock valued at $18,124,000 after acquiring an additional 124,835 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of Arista Networks by 300.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 34,612 shares of the technology company’s stock valued at $3,826,000 after acquiring an additional 25,978 shares during the period. Finally, 5T Wealth LLC purchased a new stake in Arista Networks during the 4th quarter worth $1,046,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ANET shares. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. UBS Group boosted their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Trading Down 4.9 %

Shares of NYSE:ANET opened at $98.31 on Friday. The company has a 50 day moving average of $113.94 and a 200-day moving average of $101.57. The firm has a market cap of $123.84 billion, a P/E ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts forecast that Arista Networks, Inc. will post 2.18 EPS for the current year.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 260,056 shares of company stock valued at $30,225,623 over the last ninety days. Insiders own 3.54% of the company’s stock.

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.