Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 275.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 36,845 shares of the technology company’s stock after buying an additional 27,026 shares during the quarter. Phoenix Financial Ltd.’s holdings in Arista Networks were worth $4,073,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks during the 4th quarter valued at approximately $242,000. GHE LLC lifted its holdings in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Colonial River Investments LLC grew its position in shares of Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management purchased a new stake in shares of Arista Networks during the fourth quarter worth about $630,000. Finally, Berkshire Capital Holdings Inc. raised its position in shares of Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,031 shares of company stock valued at $39,364,943 over the last 90 days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

ANET stock opened at $72.53 on Friday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market cap of $91.47 billion, a PE ratio of 32.67, a PEG ratio of 3.10 and a beta of 1.30. The firm’s 50 day moving average price is $89.54 and its 200-day moving average price is $100.29.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS 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 29.91% and a net margin of 40.72%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ANET. Piper Sandler lowered their price objective on Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley decreased their price objective on Arista Networks from $118.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One 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. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

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.