Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 357.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 421 shares of the technology company’s stock after buying an additional 329 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Arista Networks were worth $47,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ANET. OneDigital Investment Advisors LLC raised its holdings in shares of Arista Networks by 4.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock worth $1,697,000 after purchasing an additional 207 shares during the period. Claro Advisors LLC raised its holdings in shares of Arista Networks by 166.4% in the 3rd quarter. Claro Advisors LLC now owns 1,569 shares of the technology company’s stock worth $602,000 after purchasing an additional 980 shares during the period. Swiss National Bank raised its holdings in shares of Arista Networks by 0.5% in the 3rd quarter. Swiss National Bank now owns 790,600 shares of the technology company’s stock worth $303,448,000 after purchasing an additional 3,900 shares during the period. Aljian Capital Management LLC purchased a new position in shares of Arista Networks in the 3rd quarter worth about $235,000. Finally, Quest Partners LLC raised its holdings in shares of Arista Networks by 149.2% in the 3rd quarter. Quest Partners LLC now owns 2,896 shares of the technology company’s stock worth $1,112,000 after purchasing an additional 1,734 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and raised their target price for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler reiterated a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Trading Up 4.3 %

Shares of ANET opened at $83.58 on Monday. The firm has a market cap of $105.41 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 3.10 and a beta of 1.08. The stock has a 50 day moving average of $105.75 and a 200-day moving average of $101.94. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58.

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

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

About Arista Networks

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.