Mission Wealth Management LP Acquires 4,264 Shares of Arista Networks, Inc. (NYSE:ANET)

Mission Wealth Management LP lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 324.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,578 shares of the technology company’s stock after acquiring an additional 4,264 shares during the quarter. Mission Wealth Management LP’s holdings in Arista Networks were worth $617,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ANET. Stephens Inc. AR boosted its holdings in shares of Arista Networks by 4.7% during the 3rd quarter. Stephens Inc. AR now owns 2,751 shares of the technology company’s stock valued at $1,056,000 after acquiring an additional 124 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Arista Networks by 16.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,159 shares of the technology company’s stock valued at $829,000 after acquiring an additional 304 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Arista Networks by 8.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,090 shares of the technology company’s stock valued at $17,690,000 after acquiring an additional 3,706 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Arista Networks by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 67,995 shares of the technology company’s stock valued at $26,793,000 after acquiring an additional 5,941 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Arista Networks by 3.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 231,364 shares of the technology company’s stock valued at $88,802,000 after acquiring an additional 8,604 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ANET. The Goldman Sachs Group lifted their target price on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One 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 stock presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $85.26 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The firm has a market capitalization of $107.53 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 3.10 and a beta of 1.09. The business has a 50-day simple moving average of $110.66 and a 200 day simple moving average of $102.25.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating 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, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 431,441 shares of company stock valued at $45,713,162 in the last three months. Corporate 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.