Graypoint LLC Has $398,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Graypoint LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 13.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,692 shares of the technology company’s stock after acquiring an additional 207 shares during the period. Graypoint LLC’s holdings in Arista Networks were worth $398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Morgan Stanley grew its holdings in Arista Networks by 162.2% in the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the period. Norges Bank acquired a new stake in Arista Networks in the fourth quarter worth $308,885,000. FMR LLC grew its holdings in Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Schroder Investment Management Group grew its holdings in Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after purchasing an additional 1,025,815 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Arista Networks by 1,424.3% in the fourth quarter. 1832 Asset Management L.P. now owns 875,198 shares of the technology company’s stock worth $106,205,000 after purchasing an additional 817,781 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the transaction, the chief executive officer now owns 82,766 shares of the company’s stock, valued at $21,320,521.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 18,621 shares of Arista Networks stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the sale, the chief executive officer now owns 82,766 shares in the company, valued at $21,320,521.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Yvonne Wassenaar sold 186 shares of Arista Networks stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now owns 2,678 shares in the company, valued at approximately $700,055.98. The disclosure for this sale can be found here. Insiders have sold 361,036 shares of company stock valued at $102,813,921 over the last 90 days. 18.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday. Finally, Barclays raised their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Stock Down 8.6 %

Shares of NYSE ANET opened at $271.22 on Monday. The firm’s 50-day moving average price is $281.78 and its 200-day moving average price is $242.84. The company has a market cap of $84.79 billion, a PE ratio of 41.28, a PEG ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

About Arista Networks

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.