Fidelis Capital Partners LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Fidelis Capital Partners LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 320.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,203 shares of the technology company’s stock after purchasing an additional 7,774 shares during the period. Fidelis Capital Partners LLC’s holdings in Arista Networks were worth $1,138,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ANET. Caitlin John LLC grew its position in 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 acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after buying an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Arista Networks by 300.0% in 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 period. Finally, New Millennium Group LLC lifted 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 worth $29,000 after buying an additional 195 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 431,441 shares of company stock worth $45,713,162. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Barclays lifted their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Stock Down 7.9 %

NYSE:ANET opened at $85.74 on Tuesday. The company has a market capitalization of $108.13 billion, a P/E ratio of 38.62, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The stock’s fifty day moving average is $111.25 and its two-hundred day moving average is $102.27.

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

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.