6,484 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,484 shares of the technology company's stock, valued at approximately $717,000. Arista Networks makes up about 0.7% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's investment portfolio, making the stock its 29th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in Arista Networks in the third quarter worth about $44,000. True Wealth Design LLC lifted 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 increased its position in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after purchasing an additional 35 shares in the last quarter. Meeder Asset Management Inc. increased its position in Arista Networks by 52.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company's stock valued at $70,000 after buying an additional 63 shares in the last quarter. Finally, Caitlin John LLC grew its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 1.9 %

Shares of ANET opened at $79.07 on Wednesday. The stock has a 50 day simple moving average of $107.62 and a 200-day simple moving average of $102.03. The stock has a market cap of $99.72 billion, a PE ratio of 35.62, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58.

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

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now directly owns 8,128 shares of the company's stock, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ANET. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their target price for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Piper Sandler reissued 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. Finally, Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.00.

Arista Networks Company 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.

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