Cynosure Group LLC Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Cynosure Group LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 179.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,024 shares of the technology company’s stock after buying an additional 1,941 shares during the quarter. Cynosure Group LLC’s holdings in Arista Networks were worth $334,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. raised its position in Arista Networks by 12,994.4% during the third quarter. Benjamin Edwards Inc. now owns 11,785 shares of the technology company’s stock worth $4,523,000 after acquiring an additional 11,695 shares during the period. Hilltop Holdings Inc. acquired a new position in shares of Arista Networks during the 3rd quarter worth about $1,153,000. Janus Henderson Group PLC lifted its stake in Arista Networks by 0.8% in the 3rd quarter. Janus Henderson Group PLC now owns 357,064 shares of the technology company’s stock valued at $137,004,000 after buying an additional 2,851 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Arista Networks by 94.0% in the 3rd quarter. IHT Wealth Management LLC now owns 13,399 shares of the technology company’s stock worth $5,132,000 after buying an additional 6,491 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in Arista Networks by 5.4% during the 3rd quarter. Motley Fool Asset Management LLC now owns 14,232 shares of the technology company’s stock worth $5,434,000 after buying an additional 734 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the topic of several research reports. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Citigroup upped their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Up 2.3 %

NYSE:ANET opened at $80.31 on Thursday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The stock’s fifty day moving average is $96.46 and its two-hundred day moving average is $101.60. The company has a market capitalization of $101.28 billion, a P/E ratio of 36.18, a P/E/G ratio of 3.10 and a beta of 1.30.

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

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,101,013.60. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 483,001 shares of company stock worth $48,220,031. Insiders own 3.54% 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.