Arista Networks, Inc. (NYSE:ANET) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,474 shares of the technology company’s stock after purchasing an additional 13,105 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Arista Networks were worth $1,931,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks during the 4th quarter worth $242,000. GHE LLC raised its holdings in shares of Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC raised its holdings in shares of Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the period. Unified Investment Management purchased a new position in shares of Arista Networks during the 4th quarter worth $630,000. Finally, Silver Oak Securities Incorporated raised its holdings in shares of Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $87.83 on Thursday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company has a market cap of $110.76 billion, a PE ratio of 39.56, a P/E/G ratio of 3.10 and a beta of 1.09. The business has a 50-day simple moving average of $110.13 and a 200-day simple moving average of $102.14.

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

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $112.00 to $115.00 in a report on Wednesday. Piper Sandler restated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the transaction, the director now directly owns 147,784 shares of the company’s stock, valued at $13,157,209.52. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,289 shares of company stock valued at $51,018,617. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Company 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.