WD Rutherford LLC Acquires New Stake in Arista Networks, Inc. $ANET

WD Rutherford LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,636 shares of the technology company’s stock, valued at approximately $8,107,000. Arista Networks makes up 3.4% of WD Rutherford LLC’s holdings, making the stock its 3rd biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of ANET. Kingswood Wealth Advisors LLC increased its position in shares of Arista Networks by 38.8% in the third quarter. Kingswood Wealth Advisors LLC now owns 8,927 shares of the technology company’s stock worth $1,301,000 after purchasing an additional 2,494 shares during the last quarter. Citizens National Bank Trust Department increased its holdings in shares of Arista Networks by 2.5% in the 3rd quarter. Citizens National Bank Trust Department now owns 10,745 shares of the technology company’s stock worth $1,566,000 after buying an additional 262 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Arista Networks by 19.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 33,242 shares of the technology company’s stock valued at $4,843,000 after buying an additional 5,427 shares in the last quarter. United Asset Strategies Inc. bought a new stake in shares of Arista Networks during the 3rd quarter worth $909,000. Finally, West Bancorporation Inc. purchased a new position in Arista Networks in the third quarter worth $203,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the transaction, the director directly owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director owned 8,980 shares of the company’s stock, valued at $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,464 shares of company stock valued at $28,488,988 in the last 90 days. 3.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a research report on Thursday, September 25th. Melius Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 12th. Citigroup boosted their target price on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. William Blair reiterated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Finally, Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $145.00 to $159.00 in a report on Monday. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $164.44.

Arista Networks Trading Down 1.9%

ANET stock opened at $130.07 on Thursday. The stock has a market capitalization of $163.80 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 2.23 and a beta of 1.41. The firm’s 50-day moving average price is $131.81 and its two-hundred day moving average price is $131.49. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $2.40 earnings per share. Arista Networks’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.