Arlington Capital Management Inc. Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Arlington Capital Management Inc. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,446 shares of the technology company’s stock after acquiring an additional 21,336 shares during the period. Arista Networks makes up approximately 2.2% of Arlington Capital Management Inc.’s investment portfolio, making the stock its 11th biggest position. Arlington Capital Management Inc.’s holdings in Arista Networks were worth $3,144,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ANET. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont increased its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Finally, New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.00.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The sale 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 company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $86.87 on Wednesday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock’s fifty day moving average price is $101.47 and its 200-day moving average price is $101.98. The company has a market cap of $109.55 billion, a P/E ratio of 39.13, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.