Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 328.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,253 shares of the technology company's stock after purchasing an additional 7,094 shares during the quarter. Farther Finance Advisors LLC's holdings in Arista Networks were worth $1,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ANET. Aptus Capital Advisors LLC lifted its stake in shares of Arista Networks by 4.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 2,446 shares of the technology company's stock valued at $939,000 after purchasing an additional 109 shares during the last quarter. Empower Advisory Group LLC lifted its position in Arista Networks by 104.2% in the third quarter. Empower Advisory Group LLC now owns 2,940 shares of the technology company's stock worth $1,128,000 after buying an additional 1,500 shares during the last quarter. Huntington National Bank boosted its stake in Arista Networks by 384.6% during the third quarter. Huntington National Bank now owns 10,085 shares of the technology company's stock worth $3,871,000 after buying an additional 8,004 shares during the period. Zions Bancorporation N.A. increased its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company's stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in shares of Arista Networks by 3.2% in the third quarter. Metis Global Partners LLC now owns 10,876 shares of the technology company's stock valued at $4,174,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

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Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm'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 transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company's stock, valued at $870,752.64. The trade was a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ANET. Piper Sandler reissued a "neutral" rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities reissued a "sell" rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.00.

Arista Networks Price Performance

NYSE ANET traded down $1.14 on Tuesday, hitting $83.96. The company had a trading volume of 9,321,734 shares, compared to its average volume of 8,680,033. The company's fifty day moving average price is $105.07 and its 200-day moving average price is $101.92. The company has a market capitalization of $105.88 billion, a PE ratio of 37.82, a PEG ratio of 3.10 and a beta of 1.08. 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 earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations 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 anticipate that Arista Networks, Inc. will post 2.2 EPS 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.