Orion Portfolio Solutions LLC Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Orion Portfolio Solutions LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,887 shares of the technology company’s stock after acquiring an additional 38,164 shares during the period. Orion Portfolio Solutions LLC’s holdings in Arista Networks were worth $5,624,000 at the end of the most recent reporting period.

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

Arista Networks Stock Down 1.3 %

ANET opened at $77.91 on Friday. The business has a fifty day moving average of $99.16 and a 200 day moving average of $101.80. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58. The stock has a market cap of $98.25 billion, a P/E ratio of 35.09, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping 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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ANET. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the transaction, the director now owns 147,784 shares of the company’s stock, valued at approximately $13,157,209.52. This represents a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,101,013.60. The trade was a 86.04 % 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 $49,112,111. 3.54% of the stock is currently owned by company insiders.

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.