Mather Group LLC. Purchases 10,016 Shares of Arista Networks, Inc. (NYSE:ANET)

Mather Group LLC. lifted its position in Arista Networks, Inc. (NYSE:ANET) by 302.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,328 shares of the technology company’s stock after acquiring an additional 10,016 shares during the quarter. Mather Group LLC.’s holdings in Arista Networks were worth $1,473,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ANET. Zions Bancorporation N.A. lifted its stake in shares of Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC lifted its position in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the last quarter. First Affirmative Financial Network boosted its holdings in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares in the last quarter. Altman Advisors Inc. grew its position in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares during the last quarter. Finally, HM Payson & Co. raised its stake in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated 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 directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the completion of the transaction, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Barclays dropped their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Performance

NYSE:ANET opened at $115.11 on Friday. The firm’s fifty day moving average is $112.58 and its two-hundred day moving average is $99.48. The firm has a market cap of $145.01 billion, a price-to-earnings ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. As a group, equities research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

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.