Cassaday & Co Wealth Management LLC Buys 3,822 Shares of Arista Networks, Inc. (NYSE:ANET)

Cassaday & Co Wealth Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 320.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,016 shares of the technology company’s stock after buying an additional 3,822 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Arista Networks were worth $554,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Zions Bancorporation N.A. boosted its position in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its holdings in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the last quarter. Altman Advisors Inc. grew its position in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares in the last quarter. HM Payson & Co. increased its stake in Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its position in Arista Networks by 4.9% during the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after buying an additional 30 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock worth $30,225,623 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $98.31 on Friday. The firm has a market cap of $123.84 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The firm’s 50-day simple moving average is $113.94 and its 200 day simple moving average is $101.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ANET shares. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price objective on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group raised their target price on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

About Arista Networks

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.