OneAscent Financial Services LLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

OneAscent Financial Services LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 512.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,574 shares of the technology company’s stock after purchasing an additional 5,501 shares during the quarter. OneAscent Financial Services LLC’s holdings in Arista Networks were worth $727,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the 4th quarter worth about $242,000. GHE LLC boosted its position in shares of Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the last quarter. Colonial River Investments LLC grew its holdings in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management acquired a new position in Arista Networks during the fourth quarter worth approximately $630,000. Finally, Berkshire Capital Holdings Inc. raised its stake in Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares in the company, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over 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 Price Performance

NYSE:ANET opened at $80.31 on Thursday. The firm has a 50-day moving average of $96.46 and a two-hundred day moving average of $101.60. The stock has a market cap of $101.28 billion, a P/E ratio of 36.18, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly 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 return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share 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.