Cyndeo Wealth Partners LLC Increases Stock Position in Arista Networks, Inc. $ANET

Cyndeo Wealth Partners LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,342 shares of the technology company’s stock after buying an additional 6,257 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Arista Networks were worth $5,441,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. SteelPeak Wealth LLC boosted its position in Arista Networks by 23.8% during the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock worth $4,134,000 after acquiring an additional 7,779 shares during the last quarter. Penobscot Investment Management Company Inc. raised its holdings in Arista Networks by 7.8% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after acquiring an additional 2,815 shares during the last quarter. Vanguard Group Inc. lifted its position in Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Arista Networks during the 2nd quarter valued at about $247,451,000. Finally, Soltis Investment Advisors LLC boosted its holdings in Arista Networks by 99.3% in the 2nd quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after purchasing an additional 20,141 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 5.4%

NYSE ANET opened at $131.29 on Friday. The business’s 50-day moving average price is $136.26 and its 200 day moving average price is $127.94. The firm has a market cap of $165.33 billion, a P/E ratio of 49.92, a P/E/G ratio of 2.51 and a beta of 1.41. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. Arista Networks’s revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ANET. Weiss Ratings cut shares of Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 15th. Melius Research boosted their target price on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Rosenblatt Securities reissued a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research report on Monday, November 24th. Needham & Company LLC upped their target price on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, William Blair reiterated an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.56.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, December 1st. The stock was sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the transaction, the director owned 25,784 shares of the company’s stock, valued at $3,302,672.56. The trade was a 23.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 216,464 shares of company stock worth $28,598,588. 3.39% of the stock is owned by company insiders.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.