NCP Inc. Makes New $44,000 Investment in Arista Networks, Inc. (NYSE:ANET)

NCP Inc. purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel reports. The firm purchased 400 shares of the technology company’s stock, valued at approximately $44,000.

A number of other hedge funds also recently bought and sold shares of the company. Arkadios Wealth Advisors lifted its holdings 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 purchasing an additional 891 shares in the last quarter. PFG Investments LLC bought a new position in Arista Networks during the 3rd quarter valued at about $314,000. J.W. Cole Advisors Inc. lifted its stake in Arista Networks by 77.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,057 shares of the technology company’s stock valued at $1,941,000 after acquiring an additional 2,206 shares during the period. Nisa Investment Advisors LLC lifted its stake in Arista Networks by 4.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 34,461 shares of the technology company’s stock valued at $13,227,000 after acquiring an additional 1,610 shares during the period. Finally, Old Port Advisors lifted its stake in Arista Networks by 23.5% during the 3rd quarter. Old Port Advisors now owns 1,265 shares of the technology company’s stock valued at $486,000 after acquiring an additional 241 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’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 value of $159,409.44. Following the transaction, the director now owns 8,128 shares of the company’s stock, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,224 shares of company stock worth $30,242,856. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $92.85 on Wednesday. The firm has a fifty day moving average price of $112.78 and a 200-day moving average price of $102.13. The stock has a market cap of $117.10 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year 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 (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 business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.79.

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.