Yelin Lapidot Holdings Management Ltd. Buys 29,028 Shares of Arista Networks, Inc. (NYSE:ANET)

Yelin Lapidot Holdings Management Ltd. boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,704 shares of the technology company’s stock after purchasing an additional 29,028 shares during the quarter. Yelin Lapidot Holdings Management Ltd.’s holdings in Arista Networks were worth $4,278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Trust Co. NA raised its position in shares of Arista Networks by 220.5% in the fourth quarter. Private Trust Co. NA now owns 9,751 shares of the technology company’s stock worth $1,078,000 after buying an additional 6,709 shares in the last quarter. First American Bank boosted its stake in Arista Networks by 303.0% in the fourth quarter. First American Bank now owns 14,314 shares of the technology company’s stock worth $1,582,000 after buying an additional 10,762 shares in the last quarter. Fielder Capital Group LLC grew its holdings in shares of Arista Networks by 298.0% during the 4th quarter. Fielder Capital Group LLC now owns 4,867 shares of the technology company’s stock valued at $538,000 after purchasing an additional 3,644 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Arista Networks by 257.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,182 shares of the technology company’s stock worth $241,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Bouchey Financial Group Ltd bought a new stake in shares of Arista Networks in the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ANET shares. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Citigroup raised their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Arista Networks Stock Down 5.1 %

ANET stock opened at $91.50 on Friday. The stock has a market cap of $115.40 billion, a P/E ratio of 41.22, a PEG ratio of 3.10 and a beta of 1.09. The business’s 50-day moving average price is $112.19 and its 200-day moving average price is $102.02. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 17,433 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the completion of the transaction, the insider now directly owns 17,433 shares of the company’s stock, valued at approximately $1,623,709.62. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 416,008 shares of company stock worth $44,854,958 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

About Arista Networks

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.