25,000 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Valliance Asset Management Ltd

Valliance Asset Management Ltd purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the technology company’s stock, valued at approximately $2,763,000. Arista Networks accounts for about 5.0% of Valliance Asset Management Ltd’s holdings, making the stock its 5th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wealthspire Advisors LLC grew its holdings in Arista Networks by 183.5% during the fourth quarter. Wealthspire Advisors LLC now owns 13,224 shares of the technology company’s stock worth $1,462,000 after buying an additional 8,560 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Arista Networks by 300.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company’s stock worth $34,000 after acquiring an additional 234 shares during the period. Cohen Capital Management Inc. purchased a new stake in Arista Networks during the 4th quarter worth about $226,000. TCW Group Inc. boosted its position in shares of Arista Networks by 218.0% during the 4th quarter. TCW Group Inc. now owns 676,716 shares of the technology company’s stock valued at $74,797,000 after acquiring an additional 463,908 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Arista Networks by 300.2% during the 4th quarter. First Horizon Advisors Inc. now owns 3,854 shares of the technology company’s stock valued at $426,000 after acquiring an additional 2,891 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

NYSE:ANET opened at $98.31 on Friday. The firm has a market capitalization of $123.97 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09. The business’s fifty day moving average price is $113.66 and its 200 day moving average price is $101.85. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 260,056 shares of company stock valued at $30,225,623. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ANET shares. Piper Sandler restated a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Barclays boosted their target price on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday. Finally, Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

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.