Aaron Wealth Advisors LLC Has $2.01 Million Stock Position in Arista Networks, Inc. $ANET

Aaron Wealth Advisors LLC reduced its position in Arista Networks, Inc. (NYSE:ANET) by 23.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,342 shares of the technology company’s stock after selling 4,590 shares during the period. Aaron Wealth Advisors LLC’s holdings in Arista Networks were worth $2,010,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc lifted 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 valued at $29,000 after purchasing an additional 72 shares during the last quarter. Knuff & Co LLC bought a new position in Arista Networks in the 3rd quarter valued at about $29,000. Board of the Pension Protection Fund bought a new position in Arista Networks in the 4th quarter valued at about $26,000. Richardson Financial Services Inc. raised its holdings in Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the period. Finally, Quarry LP bought a new position in Arista Networks in the 3rd quarter valued at about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other news, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the transaction, the director directly owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This trade represents a 12.61% 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 hyperlink. Also, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the transaction, the insider directly owned 12,976 shares in the company, valued at $1,740,600.64. This represents a 71.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 199,632 shares of company stock valued at $26,873,604. 3.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on ANET. KeyCorp reissued an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Barclays reissued an “overweight” rating and issued a $184.00 price target (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Rosenblatt Securities increased their price target on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Truist Financial began coverage on shares of Arista Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $161.00 price target on the stock. Finally, TD Cowen began coverage on shares of Arista Networks in a report on Thursday, March 12th. They issued a “buy” rating and a $170.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.61.

Arista Networks Trading Down 0.4%

Shares of ANET opened at $126.23 on Tuesday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm’s 50 day moving average is $134.29 and its 200-day moving average is $135.88. The stock has a market capitalization of $158.61 billion, a PE ratio of 45.73, a P/E/G ratio of 2.24 and a beta of 1.48.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share 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.