Arista Networks, Inc. (NYSE:ANET) Holdings Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 327.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,557 shares of the technology company's stock after buying an additional 42,556 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Arista Networks were worth $6,141,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ANET. Apollon Wealth Management LLC boosted its stake in Arista Networks by 5.4% during the third quarter. Apollon Wealth Management LLC now owns 7,076 shares of the technology company's stock valued at $2,716,000 after buying an additional 362 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Arista Networks by 2.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 4,157 shares of the technology company's stock valued at $1,596,000 after buying an additional 81 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Arista Networks by 44.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,403 shares of the technology company's stock valued at $3,993,000 after purchasing an additional 3,224 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Arista Networks during the third quarter valued at $631,000. Finally, First Heartland Consultants Inc. purchased a new stake in shares of Arista Networks during the third quarter valued at $228,000. Institutional investors own 82.47% of the company's stock.

Arista Networks Price Performance

ANET opened at $80.11 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The business has a 50-day moving average of $106.38 and a 200-day moving average of $101.73. The company has a market capitalization of $101.02 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ANET shares. StockNews.com downgraded Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, January 17th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.00.

Insider Transactions at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % 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 three months. Corporate insiders own 3.54% of the company's stock.

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.

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