CVA Family Office LLC Boosts Position in Arista Networks, Inc. (NYSE:ANET)

CVA Family Office LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET – Get Rating) by 119.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 615 shares of the technology company’s stock after buying an additional 335 shares during the period. CVA Family Office LLC’s holdings in Arista Networks were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Arista Networks by 3.0% in the third quarter. Vanguard Group Inc. now owns 26,507,053 shares of the technology company’s stock valued at $2,992,380,000 after acquiring an additional 770,172 shares in the last quarter. BlackRock Inc. grew its position in Arista Networks by 4.3% in the third quarter. BlackRock Inc. now owns 18,454,815 shares of the technology company’s stock valued at $2,083,367,000 after acquiring an additional 755,445 shares in the last quarter. Alliancebernstein L.P. grew its position in Arista Networks by 0.3% in the third quarter. Alliancebernstein L.P. now owns 10,585,948 shares of the technology company’s stock valued at $1,195,048,000 after acquiring an additional 32,867 shares in the last quarter. State Street Corp grew its position in Arista Networks by 8.1% in the third quarter. State Street Corp now owns 9,362,850 shares of the technology company’s stock valued at $1,056,972,000 after acquiring an additional 700,606 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Arista Networks by 1.8% in the third quarter. Artisan Partners Limited Partnership now owns 5,826,032 shares of the technology company’s stock valued at $657,701,000 after acquiring an additional 101,128 shares in the last quarter. Hedge funds and other institutional investors own 64.30% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $162.68 on Friday. The stock has a market capitalization of $49.84 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.01 and a beta of 1.24. Arista Networks, Inc. has a 1 year low of $89.11 and a 1 year high of $164.26. The stock’s fifty day moving average is $132.21 and its two-hundred day moving average is $125.12.

Arista Networks (NYSE:ANET – Get Rating) last posted its earnings results on Monday, February 13th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.20. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Arista Networks had a return on equity of 30.00% and a net margin of 30.87%. The firm’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. As a group, analysts predict that Arista Networks, Inc. will post 5.15 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 3,500 shares of Arista Networks stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $151.64, for a total transaction of $530,740.00. Following the sale, the senior vice president now directly owns 237,100 shares in the company, valued at $35,953,844. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Kenneth Duda sold 3,500 shares of Arista Networks stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $151.64, for a total transaction of $530,740.00. Following the sale, the senior vice president now directly owns 237,100 shares in the company, valued at $35,953,844. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Anshul Sadana sold 10,000 shares of Arista Networks stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $150.03, for a total transaction of $1,500,300.00. Following the sale, the chief operating officer now owns 82,711 shares in the company, valued at $12,409,131.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,462 shares of company stock worth $35,671,679. 19.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ANET shares. Cowen raised their price target on shares of Arista Networks from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 14th. Piper Sandler decreased their price target on shares of Arista Networks from $164.00 to $155.00 in a research report on Tuesday, January 17th. Needham & Company LLC raised their price target on shares of Arista Networks from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Rosenblatt Securities reissued a “buy” rating and set a $175.00 price target on shares of Arista Networks in a research report on Tuesday, February 14th. Finally, JMP Securities raised their price target on shares of Arista Networks from $135.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.89.

About Arista Networks

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.