Trifecta Capital Advisors LLC Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Trifecta Capital Advisors LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 908 shares of the technology company’s stock after acquiring an additional 681 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Arista Networks were worth $100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pine Valley Investments Ltd Liability Co boosted its position in Arista Networks by 290.2% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,192 shares of the technology company’s stock worth $795,000 after acquiring an additional 5,349 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Arista Networks by 298.1% during the fourth quarter. Addison Advisors LLC now owns 4,817 shares of the technology company’s stock worth $532,000 after purchasing an additional 3,607 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Arista Networks in the fourth quarter valued at $63,000. GHE LLC increased its stake in Arista Networks by 319.0% in 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 during the last quarter. Finally, Rothschild Investment LLC lifted its position in Arista Networks by 305.0% during the fourth quarter. Rothschild Investment LLC now owns 2,519 shares of the technology company’s stock worth $278,000 after buying an additional 1,897 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,056 shares of company stock valued at $30,225,623. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ANET. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Barclays boosted their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 5.8 %

Shares of NYSE:ANET opened at $92.61 on Tuesday. The company has a market capitalization of $116.79 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a 50 day moving average of $113.18 and a two-hundred day moving average of $102.07. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

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

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.