Orion Portfolio Solutions LLC Buys 38,164 Shares of Arista Networks, Inc. (NYSE:ANET)

Orion Portfolio Solutions LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,887 shares of the technology company's stock after purchasing an additional 38,164 shares during the period. Orion Portfolio Solutions LLC's holdings in Arista Networks were worth $5,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its stake in Arista Networks by 281.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 505,998 shares of the technology company's stock worth $55,928,000 after purchasing an additional 373,259 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Arista Networks by 243.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,451,968 shares of the technology company's stock valued at $160,486,000 after acquiring an additional 1,029,421 shares during the period. New Age Alpha Advisors LLC lifted its position in shares of Arista Networks by 47,588.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 17,168 shares of the technology company's stock valued at $1,898,000 after acquiring an additional 17,132 shares in the last quarter. Covington Investment Advisors Inc. boosted its stake in Arista Networks by 298.9% in the 4th quarter. Covington Investment Advisors Inc. now owns 165,232 shares of the technology company's stock worth $18,263,000 after purchasing an additional 123,814 shares during the period. Finally, Tree Line Advisors Hong Kong Ltd. grew its position in Arista Networks by 300.0% during the 4th quarter. Tree Line Advisors Hong Kong Ltd. now owns 300,000 shares of the technology company's stock worth $33,159,000 after purchasing an additional 225,000 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Remove Ads

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $1.83 during trading on Wednesday, reaching $80.32. The company's stock had a trading volume of 2,578,882 shares, compared to its average volume of 10,600,668. The business's fifty day moving average price is $97.45 and its 200-day moving average price is $101.75. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The firm has a market cap of $101.29 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

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 analysts' consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on 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 directly owns 163,784 shares in the company, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ANET. Piper Sandler restated a "neutral" rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, January 17th. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, Rosenblatt Securities reaffirmed a "sell" rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average target price of $114.00.

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.