Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by NORTHSTAR ASSET MANAGEMENT Co LLC

NORTHSTAR ASSET MANAGEMENT Co LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,840 shares of the technology company’s stock after purchasing an additional 44,880 shares during the period. Arista Networks makes up about 1.5% of NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings, making the stock its 15th biggest position. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Arista Networks were worth $6,614,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LVW Advisors LLC raised its stake in Arista Networks by 6.0% during the 3rd quarter. LVW Advisors LLC now owns 730 shares of the technology company’s stock valued at $280,000 after purchasing an additional 41 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Arista Networks by 9.4% during the third quarter. Valeo Financial Advisors LLC now owns 2,041 shares of the technology company’s stock valued at $783,000 after buying an additional 175 shares in the last quarter. First Affirmative Financial Network lifted its stake in Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after acquiring an additional 28 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Arista Networks by 10.9% during the 3rd quarter. Gateway Investment Advisers LLC now owns 1,469 shares of the technology company’s stock worth $564,000 after acquiring an additional 144 shares during the period. Finally, Inspire Investing LLC grew its stake in Arista Networks by 11.6% during the 3rd quarter. Inspire Investing LLC now owns 28,640 shares of the technology company’s stock valued at $10,993,000 after acquiring an additional 2,976 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on ANET shares. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Barclays reduced their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Price Performance

Shares of ANET opened at $118.52 on Monday. The company has a market capitalization of $149.31 billion, a PE ratio of 56.98, a price-to-earnings-growth 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. The company’s fifty day moving average price is $113.21 and its 200 day moving average price is $99.91.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 in the last 90 days. 3.54% of the stock is currently owned by insiders.

Arista Networks 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.