Parcion Private Wealth LLC Purchases 3,858 Shares of Arista Networks, Inc. (NYSE:ANET)

Parcion Private Wealth LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,144 shares of the technology company's stock after buying an additional 3,858 shares during the quarter. Parcion Private Wealth LLC's holdings in Arista Networks were worth $569,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. acquired a new position in shares of Arista Networks during the fourth quarter valued at $242,000. Silver Oak Securities Incorporated lifted its position in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company's stock valued at $2,072,000 after purchasing an additional 14,843 shares during the period. Proactive Wealth Strategies LLC boosted its stake in shares of Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company's stock valued at $676,000 after purchasing an additional 4,865 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its stake in shares of Arista Networks by 292.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company's stock valued at $66,599,000 after purchasing an additional 449,088 shares during the last quarter. Finally, 5T Wealth LLC acquired a new stake in shares of Arista Networks during the 4th quarter worth approximately $1,046,000. Institutional investors own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,944 shares of company stock valued at $30,214,186. Insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday. Piper Sandler restated a "neutral" rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday. Citigroup lifted their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Barclays boosted their target price on Arista Networks from $125.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $113.79.

Arista Networks Stock Down 4.9 %

Shares of ANET stock traded down $5.10 during trading on Friday, reaching $98.31. The company's stock had a trading volume of 13,680,264 shares, compared to its average volume of 9,932,076. The company has a market cap of $123.84 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The business has a fifty day moving average price of $113.94 and a 200-day moving average price of $101.57.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for 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%. Research analysts anticipate that Arista Networks, Inc. will post 2.18 EPS for the current year.

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.