Arista Networks, Inc. (NYSE:ANET) Shares Bought by PAX Financial Group LLC

PAX Financial Group LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,767 shares of the technology company’s stock after buying an additional 33,584 shares during the quarter. PAX Financial Group LLC’s holdings in Arista Networks were worth $4,948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Thoroughbred Financial Services LLC lifted its stake in Arista Networks by 297.5% in the 4th quarter. Thoroughbred Financial Services LLC now owns 16,220 shares of the technology company’s stock valued at $1,792,000 after buying an additional 12,140 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Arista Networks by 297.2% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,291 shares of the technology company’s stock valued at $143,000 after acquiring an additional 966 shares during the last quarter. Atlas Capital Advisors Inc. boosted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,516 shares of the technology company’s stock worth $168,000 after purchasing an additional 1,137 shares during the last quarter. Pitcairn Co. increased its stake in Arista Networks by 258.7% in the fourth quarter. Pitcairn Co. now owns 3,465 shares of the technology company’s stock valued at $383,000 after purchasing an additional 2,499 shares during the last quarter. Finally, Grant Private Wealth Management Inc acquired a new stake in Arista Networks in the 4th quarter worth about $330,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ANET shares. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler restated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock valued at $48,840,431. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $71.15 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The company has a 50-day moving average of $95.30 and a 200-day moving average of $101.39. The company has a market capitalization of $89.73 billion, a P/E ratio of 32.05, a PEG ratio of 3.10 and a beta of 1.30.

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

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.