Alta Wealth Advisors LLC Invests $759,000 in Arista Networks, Inc. $ANET

Alta Wealth Advisors LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,207 shares of the technology company’s stock, valued at approximately $759,000.

A number of other hedge funds have also recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC increased its position in shares of Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 70 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Crown Wealth Group LLC grew its stake in Arista Networks by 2.4% in the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after buying an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc increased its holdings in shares of Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares during the last quarter. Finally, Stablepoint Partners LLC raised its position in shares of Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after buying an additional 77 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Barclays reiterated an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the transaction, the insider directly owned 522,400 shares of the company’s stock, valued at $67,091,832. This represents a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 216,464 shares of company stock valued at $27,687,068 in the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $143.91 on Tuesday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The stock has a market capitalization of $181.22 billion, a PE ratio of 54.72, a PEG ratio of 2.29 and a beta of 1.41. The business’s 50-day moving average is $128.95 and its 200 day moving average is $134.38.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS 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 business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business earned $2.40 EPS. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks 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.