Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Bray Capital Advisors

Bray Capital Advisors boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,800 shares of the technology company’s stock after acquiring an additional 1,350 shares during the period. Bray Capital Advisors’ holdings in Arista Networks were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks in the fourth quarter valued at $242,000. Silver Oak Securities Incorporated lifted its stake in Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares during the last quarter. Proactive Wealth Strategies LLC lifted its stake in Arista Networks by 387.6% in the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock valued at $676,000 after buying an additional 4,865 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock valued at $66,599,000 after buying an additional 449,088 shares during the last quarter. Finally, 5T Wealth LLC bought a new stake in Arista Networks in the fourth quarter valued at $1,046,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,944 shares of company stock worth $30,214,186 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ANET. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday. Rosenblatt Securities restated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday. UBS Group lifted their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Trading Down 0.4 %

Shares of Arista Networks stock opened at $103.47 on Friday. The company’s 50-day moving average price is $114.01 and its two-hundred day moving average price is $101.55. The stock has a market cap of $130.35 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results 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 return on equity of 31.22% and a net margin of 40.72%. On average, equities analysts predict that Arista Networks, Inc. will post 2.18 EPS for the current fiscal 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.