True North Advisors LLC Makes New $562,000 Investment in Arista Networks, Inc. $ANET

True North Advisors LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,859 shares of the technology company’s stock, valued at approximately $562,000.

A number of other hedge funds also recently made changes to their positions in ANET. AdvisorNet Financial Inc increased its stake in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. Bare Financial Services Inc increased its position in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. REAP Financial Group LLC increased its position in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. Nova Wealth Management Inc. raised its holdings in shares of Arista Networks by 215.7% during the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock valued at $50,000 after buying an additional 233 shares in the last quarter. Finally, Solstein Capital LLC lifted its position in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after buying an additional 316 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ANET shares. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. UBS Group reiterated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $145.00 price objective (up previously from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.56.

Insiders Place Their Bets

In related news, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock valued at $28,598,588 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.5%

Shares of ANET stock opened at $130.50 on Tuesday. The company has a market capitalization of $164.33 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.51 and a beta of 1.41. The firm has a 50-day moving average price of $135.92 and a 200 day moving average price of $128.43. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 earnings per share. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.