Cookson Peirce & Co. Inc. Has $4.24 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Cookson Peirce & Co. Inc. grew its stake in Arista Networks, Inc. (NYSE:ANET) by 298.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,330 shares of the technology company’s stock after purchasing an additional 28,705 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Arista Networks were worth $4,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Zions Bancorporation N.A. lifted its stake in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC increased its stake in shares of Arista Networks by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after acquiring an additional 27 shares during the last quarter. Altman Advisors Inc. raised its position in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares during the period. Beacon Financial Advisory LLC boosted its stake 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 acquiring an additional 30 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in Arista Networks by 1.5% during the third quarter. Forum Financial Management LP now owns 2,268 shares of the technology company’s stock valued at $871,000 after purchasing an additional 33 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 431,441 shares of company stock valued at $45,713,162. 3.54% of the stock is owned by company insiders.

Analyst Ratings Changes

ANET has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group lifted their target price on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley lifted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. 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. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

Arista Networks Stock Down 0.9 %

Shares of Arista Networks stock opened at $85.26 on Wednesday. The stock has a market cap of $107.53 billion, a P/E ratio of 38.41, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The business’s 50 day moving average is $110.66 and its 200-day moving average is $102.25.

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

Arista Networks 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.