Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Westover Capital Advisors LLC

Westover Capital Advisors LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,000 shares of the technology company’s stock after buying an additional 3,000 shares during the quarter. Westover Capital Advisors LLC’s holdings in Arista Networks were worth $442,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. acquired a new position in shares of Arista Networks in the 4th quarter worth $242,000. GHE LLC boosted its position in shares of Arista Networks by 319.0% in 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 period. Colonial River Investments LLC increased its stake in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new stake in Arista Networks during the 4th quarter worth about $630,000. Finally, Silver Oak Securities Incorporated lifted its stake in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after buying an additional 14,843 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 7.9 %

Shares of ANET opened at $85.74 on Tuesday. The firm has a market cap of $108.13 billion, a price-to-earnings ratio of 38.62, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company’s fifty day moving average is $111.25 and its 200-day moving average is $102.27. 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, topping the consensus estimate 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 the consensus estimate of $1.90 billion. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities restated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a report on Tuesday, February 18th. Evercore ISI lifted 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. One research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 431,441 shares of company stock valued at $45,713,162. Corporate insiders own 3.54% of the company’s stock.

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.