Tyche Wealth Partners LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Tyche Wealth Partners LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,277 shares of the technology company’s stock, valued at approximately $362,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ANET. Swedbank AB raised its position in Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after buying an additional 3,496,497 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Arista Networks by 473.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock worth $146,593,000 after acquiring an additional 1,094,910 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after acquiring an additional 872,919 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Arista Networks by 335.0% in the fourth quarter. Fifth Third Bancorp now owns 717,251 shares of the technology company’s stock valued at $79,278,000 after acquiring an additional 552,350 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 0.3 %

Shares of ANET opened at $115.11 on Friday. The business’s fifty 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. The stock has a market cap of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 40.29% and a return on equity of 30.52%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. On average, analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current year.

Analyst Ratings Changes

ANET has been the subject of several analyst reports. UBS Group raised their price target 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. Barclays lowered their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 in the last quarter. 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.