Rollins Financial Advisors LLC Has $597,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Rollins Financial Advisors LLC grew its position in 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 fund owned 5,404 shares of the technology company's stock after purchasing an additional 4,053 shares during the period. Rollins Financial Advisors LLC's holdings in Arista Networks were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after buying an additional 72,311,318 shares during the period. FMR LLC lifted its holdings in Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after purchasing an additional 14,454,822 shares during the last quarter. Finally, Norges Bank bought a new stake in Arista Networks during the fourth quarter worth approximately $1,397,833,000. Institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ANET. Piper Sandler reduced their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday. Morgan Stanley decreased their target price on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday. Barclays restated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC restated a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $108.50.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $0.10 during midday trading on Friday, reaching $72.75. 5,286,496 shares of the company's stock traded hands, compared to its average volume of 9,169,894. The company has a market cap of $91.75 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company's 50 day simple moving average is $89.54 and its 200 day simple moving average is $100.29.

Arista Networks (NYSE:ANET - Get Free Report) last announced 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 analysts' expectations of $1.90 billion. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is owned by insiders.

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.