Atria Wealth Solutions Inc. Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Atria Wealth Solutions Inc. increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 151.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,540 shares of the technology company's stock after acquiring an additional 22,617 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Arista Networks were worth $4,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kornitzer Capital Management Inc. KS increased its stake in shares of Arista Networks by 181.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 10,640 shares of the technology company's stock worth $1,176,000 after purchasing an additional 6,855 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Arista Networks by 310.0% in the fourth quarter. Venturi Wealth Management LLC now owns 13,940 shares of the technology company's stock worth $1,541,000 after buying an additional 10,540 shares during the period. Pinnbrook Capital Management LP purchased a new position in shares of Arista Networks in the fourth quarter worth $6,025,000. D.A. Davidson & CO. increased its stake in shares of Arista Networks by 285.5% in the fourth quarter. D.A. Davidson & CO. now owns 19,882 shares of the technology company's stock worth $2,198,000 after buying an additional 14,724 shares during the period. Finally, Empower Advisory Group LLC increased its position in Arista Networks by 301.4% during the 4th quarter. Empower Advisory Group LLC now owns 11,800 shares of the technology company's stock valued at $1,304,000 after purchasing an additional 8,860 shares during the period. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Barclays upped their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an "overweight" rating in a research note on Wednesday. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a research note on Tuesday. Wells Fargo & Company upped their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Piper Sandler reiterated a "neutral" rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus target price of $113.79.

Arista Networks Trading Down 4.9 %

ANET traded down $5.10 on Friday, hitting $98.31. The company had a trading volume of 13,984,341 shares, compared to its average volume of 10,062,921. The firm has a market cap of $123.84 billion, a P/E ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09. The company's fifty day moving average price is $113.94 and its 200 day moving average price is $101.57. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion for 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, analysts predict that Arista Networks, Inc. will post 2.18 earnings per share for the current year.

Insider Buying and Selling

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

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.