Geneva Partners LLC Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Geneva Partners LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 298.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,344 shares of the technology company’s stock after buying an additional 21,232 shares during the period. Arista Networks comprises about 1.3% of Geneva Partners LLC’s portfolio, making the stock its 26th biggest position. Geneva Partners LLC’s holdings in Arista Networks were worth $3,133,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. New Millennium Group LLC increased its holdings in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of Arista Networks by 1,012.0% during the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,832 shares of company stock valued at $28,538,497 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $115.43 on Thursday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The business’s fifty day moving average price is $112.28 and its two-hundred day moving average price is $99.36. The stock has a market cap of $145.41 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Rosenblatt Securities upped their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler reissued a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $105.83.

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.