Arista Networks, Inc. (NYSE:ANET) Shares Purchased by PDS Planning Inc

PDS Planning Inc increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,376 shares of the technology company’s stock after acquiring an additional 41 shares during the quarter. PDS Planning Inc’s holdings in Arista Networks were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after purchasing an additional 84,212 shares during the last quarter. FMR LLC boosted its holdings in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after purchasing an additional 16,081 shares during the last quarter. Northern Trust Corp boosted its holdings in Arista Networks by 5.0% in the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after purchasing an additional 114,978 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Arista Networks by 0.8% in the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after purchasing an additional 14,627 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 1.7 %

NYSE:ANET traded up $4.23 during trading hours on Tuesday, reaching $249.70. 887,018 shares of the company’s stock were exchanged, compared to its average volume of 2,449,330. The firm has a market capitalization of $78.06 billion, a price-to-earnings ratio of 37.88, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a 50-day moving average of $279.58 and a 200 day moving average of $245.79. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Research analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ANET. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Monday, January 8th. Piper Sandler upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 733 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $268.15, for a total transaction of $196,553.95. Following the completion of the transaction, the chief executive officer now owns 74,031 shares of the company’s stock, valued at approximately $19,851,412.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 334,227 shares of company stock worth $95,828,875. Company insiders own 18.99% of the company’s stock.

Arista Networks Company Profile

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.