Avalon Capital Management Has $1.10 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Avalon Capital Management increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 376.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,972 shares of the technology company’s stock after buying an additional 7,879 shares during the quarter. Avalon Capital Management’s holdings in Arista Networks were worth $1,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks in the third quarter valued at $44,000. HM Payson & Co. lifted its stake in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the period. Finally, Transcendent Capital Group LLC grew its holdings in shares of Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after acquiring an additional 75 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ANET shares. Piper Sandler reiterated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group raised their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Price Performance

Shares of ANET opened at $92.61 on Tuesday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The business’s fifty day moving average price is $113.18 and its 200 day moving average price is $102.07. The stock has a market capitalization of $116.79 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,056 shares of company stock worth $30,225,623. 3.54% of the stock is currently owned by company insiders.

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.