Impact Investors Inc Takes Position in Arista Networks, Inc. (NYSE:ANET)

Impact Investors Inc bought a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, HoldingsChannel.com reports. The fund bought 28,023 shares of the technology company’s stock, valued at approximately $3,097,000. Arista Networks accounts for 2.4% of Impact Investors Inc’s portfolio, making the stock its 8th largest position.

A number of other hedge funds have also added to or reduced their stakes in ANET. MidAtlantic Capital Management Inc. purchased a new position in shares of Arista Networks during the 3rd quarter worth $44,000. HM Payson & Co. lifted its position in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC grew its holdings in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC increased its position in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC raised its stake in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ANET. Evercore ISI lifted their target price on shares of 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 reiterated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $92.85 on Wednesday. The business’s 50 day moving average price is $112.78 and its 200-day moving average price is $102.13. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market cap of $117.10 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 3.10 and a beta of 1.09.

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

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,224 shares of company stock valued at $30,242,856 over the last quarter. 3.54% of the stock is owned by corporate insiders.

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.