Forefront Wealth Partners LLC Acquires Shares of 4,425 Arista Networks, Inc. $ANET

Forefront Wealth Partners LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,425 shares of the technology company’s stock, valued at approximately $645,000.

Other large investors have also recently bought and sold shares of the company. SteelPeak Wealth LLC boosted its stake in Arista Networks by 23.8% during the 2nd quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 7,779 shares during the period. Penobscot Investment Management Company Inc. boosted its stake in shares of Arista Networks by 7.8% during the second quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock worth $3,998,000 after buying an additional 2,815 shares during the period. Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. Holocene Advisors LP purchased a new position in shares of Arista Networks during the second quarter worth about $247,451,000. Finally, Soltis Investment Advisors LLC increased its position 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 acquiring an additional 20,141 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several analyst reports. Evercore ISI lifted their target price on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Melius Research increased their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Needham & Company LLC raised 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, JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.56.

Insider Transactions at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,598,124.16. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares in the company, valued at $1,052,007. This trade represents a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 208,464 shares of company stock valued at $27,418,668. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 1.3%

Shares of NYSE ANET opened at $132.42 on Wednesday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The firm has a 50-day moving average price of $134.49 and a 200 day moving average price of $129.99. The stock has a market capitalization of $166.75 billion, a price-to-earnings ratio of 50.35, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $2.40 earnings per share. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company Profile

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.