Transamerica Financial Advisors Inc. Increases Position in Arista Networks, Inc. (NYSE:ANET)

Transamerica Financial Advisors Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 288.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,959 shares of the technology company’s stock after purchasing an additional 48,973 shares during the period. Arista Networks comprises approximately 0.7% of Transamerica Financial Advisors Inc.’s portfolio, making the stock its 26th largest holding. Transamerica Financial Advisors Inc.’s holdings in Arista Networks were worth $7,291,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stock Yards Bank & Trust Co. purchased a new stake in Arista Networks in the fourth quarter worth $242,000. GHE LLC increased its stake in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after buying 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 buying an additional 7,466 shares during the period. Unified Investment Management bought a new stake in Arista Networks during the 4th quarter valued at about $630,000. Finally, Berkshire Capital Holdings Inc. grew its stake in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after acquiring an additional 55,430 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

Arista Networks stock opened at $77.91 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58. The stock has a market cap of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The stock has a 50-day moving average of $99.16 and a two-hundred day moving average of $101.66.

Arista Networks (NYSE:ANET) last released 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler restated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One investment 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 data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company’s stock.

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.