1,820 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Bouchey Financial Group Ltd

Bouchey Financial Group Ltd bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,820 shares of the technology company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in Arista Networks during the 3rd quarter valued at approximately $44,000. HM Payson & Co. raised its stake in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC raised its stake in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC raised its stake in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Finally, Transcendent Capital Group LLC raised its stake in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after purchasing an additional 75 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 416,008 shares of company stock worth $44,854,958 in the last quarter. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $91.50 on Friday. The stock has a market cap of $115.40 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock has a 50 day moving average price of $112.19 and a 200-day moving average price of $102.02. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks (NYSE:ANET) last announced its 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. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ANET. Piper Sandler reissued 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. Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

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.