Hershey Financial Advisers LLC Buys Shares of 21,206 Arista Networks, Inc. (NYSE:ANET)

Hershey Financial Advisers LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 21,206 shares of the technology company's stock, valued at approximately $2,344,000. Arista Networks accounts for about 2.1% of Hershey Financial Advisers LLC's investment portfolio, making the stock its 13th largest position.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock valued at $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC grew its stake in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after acquiring an additional 35 shares in the last quarter. Caitlin John LLC increased its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Finally, New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have commented on ANET shares. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Piper Sandler reissued a "neutral" rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.00.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now 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. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 over the last three months. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

ANET stock traded down $0.64 during mid-day trading on Tuesday, reaching $86.87. The company had a trading volume of 7,775,434 shares, compared to its average volume of 8,570,789. The company has a market capitalization of $109.55 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The firm has a 50 day moving average of $102.03 and a 200 day moving average of $101.92. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58.

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

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.