Onyx Bridge Wealth Group LLC Buys 2,302 Shares of Arista Networks, Inc. (NYSE:ANET)

Onyx Bridge Wealth Group LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 341.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,977 shares of the technology company’s stock after acquiring an additional 2,302 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Arista Networks were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. MidAtlantic Capital Management Inc. bought a new position in Arista Networks during the third quarter valued at $44,000. HM Payson & Co. lifted its position in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC lifted its position in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC lifted its position in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the last quarter. Finally, ORG Partners LLC lifted its position in Arista Networks by 186.0% during the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $115.11 on Friday. The company has a market capitalization of $145.01 billion, a PE ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. The firm’s 50-day moving average is $112.58 and its 200 day moving average is $99.48. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month 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, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Sell-side analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,832 shares of company stock valued at $28,538,497. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley raised their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Rosenblatt Securities raised their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Piper Sandler restated a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, UBS Group raised their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.