Salvus Wealth Management LLC Has $2.71 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Salvus Wealth Management LLC lowered its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,526 shares of the technology company’s stock after selling 521 shares during the period. Arista Networks comprises about 1.9% of Salvus Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Salvus Wealth Management LLC’s holdings in Arista Networks were worth $2,714,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in Arista Networks in the third quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at about $29,000. Hollencrest Capital Management bought a new position in shares of Arista Networks in the 1st quarter valued at about $30,000. BluePath Capital Management LLC bought a new position in shares of Arista Networks in the 3rd quarter valued at about $33,000. Finally, NBC Securities Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at about $33,000. Institutional investors own 67.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ANET shares. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Citigroup lifted their price objective on shares of Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Morgan Stanley lifted their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Rosenblatt Securities lifted their target price on shares of Arista Networks from $230.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Piper Sandler lifted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $271.38.

Insider Activity

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $249.00, for a total value of $4,980,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $807,756. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $249.00, for a total transaction of $4,980,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $807,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John F. Mccool sold 416 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $285.52, for a total transaction of $118,776.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,666 shares of company stock valued at $30,351,719. 18.99% of the stock is currently owned by insiders.

Arista Networks Price Performance

ANET stock traded down $6.29 during trading on Friday, reaching $277.73. 3,809,846 shares of the company were exchanged, compared to its average volume of 2,403,890. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $292.66. The company has a market capitalization of $86.83 billion, a price-to-earnings ratio of 42.27, a P/E/G ratio of 2.41 and a beta of 1.10. The company has a 50-day moving average of $267.69 and a two-hundred day moving average of $227.41.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, analysts forecast that Arista Networks, Inc. will post 6.67 EPS for the current year.

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.