Colonial River Investments LLC Has $1.08 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Colonial River Investments LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 327.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,745 shares of the technology company’s stock after purchasing an additional 7,466 shares during the quarter. Colonial River Investments LLC’s holdings in Arista Networks were worth $1,077,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ANET. Caitlin John LLC increased its stake in shares of Arista Networks by 174.7% in 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 in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of Arista Networks by 300.0% in the 4th 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 in the last quarter. New Millennium Group LLC increased its stake in shares of Arista Networks by 300.0% in the 4th 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 in the last quarter. Finally, Westside Investment Management Inc. increased its stake in shares of Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ANET shares. 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, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Price Performance

Arista Networks stock opened at $98.31 on Monday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market capitalization of $123.97 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The business’s fifty day moving average is $113.66 and its 200 day moving average is $102.01.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.19 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. 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 firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock valued at $30,225,623 over the last ninety days. Insiders own 3.54% of the company’s stock.

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.