Ewa LLC Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

Ewa LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 809 shares of the technology company’s stock, valued at approximately $191,000.

Other large investors have also added to or reduced their stakes in the company. Sandy Spring Bank lifted its position in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares during the period. Fulton Breakefield Broenniman LLC raised its position in shares of Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after purchasing an additional 40 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after purchasing an additional 41 shares during the last quarter. PDS Planning Inc raised its position in shares of Arista Networks by 3.1% in the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after purchasing an additional 41 shares during the last quarter. Finally, Purus Wealth Management LLC raised its position in shares of Arista Networks by 0.5% in the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The disclosure for this sale can be found here. Insiders sold a total of 332,514 shares of company stock worth $95,369,397 over the last three months. 18.99% of the stock is currently owned by insiders.

Arista Networks Stock Performance

Arista Networks stock traded down $2.79 during mid-day trading on Monday, hitting $261.91. The company’s stock had a trading volume of 1,060,689 shares, compared to its average volume of 2,464,542. The company has a 50 day moving average of $279.09 and a 200-day moving average of $247.61. The stock has a market cap of $82.14 billion, a PE ratio of 40.37, a P/E/G ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ANET shares. JPMorgan Chase & Co. boosted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company boosted their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley boosted their price objective on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Piper Sandler upped their price target on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $275.59.

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.