Synergy Financial Group LTD Purchases 26,921 Shares of Arista Networks, Inc. (NYSE:ANET)

Synergy Financial Group LTD increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 242.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,045 shares of the technology company’s stock after purchasing an additional 26,921 shares during the quarter. Arista Networks accounts for about 3.5% of Synergy Financial Group LTD’s investment portfolio, making the stock its 7th largest holding. Synergy Financial Group LTD’s holdings in Arista Networks were worth $4,205,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Trifecta Capital Advisors LLC boosted its position in shares of Arista Networks by 300.0% in the fourth quarter. Trifecta Capital Advisors LLC now owns 908 shares of the technology company’s stock worth $100,000 after buying an additional 681 shares during the period. Pine Valley Investments Ltd Liability Co lifted its position in Arista Networks by 290.2% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,192 shares of the technology company’s stock worth $795,000 after acquiring an additional 5,349 shares in the last quarter. Addison Advisors LLC boosted its holdings in Arista Networks by 298.1% in the 4th quarter. Addison Advisors LLC now owns 4,817 shares of the technology company’s stock worth $532,000 after acquiring an additional 3,607 shares during the period. BankPlus Trust Department purchased a new stake in shares of Arista Networks during the fourth quarter valued at approximately $63,000. Finally, GHE LLC lifted its position in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,056 shares of company stock worth $30,225,623. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $92.61 on Tuesday. The stock has a market capitalization of $116.79 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a 50 day moving average price of $113.18 and a 200 day moving average price of $102.07.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ANET. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group boosted their price target on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Barclays increased their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target 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.