1,465 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Watershed Private Wealth LLC

Watershed Private Wealth LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,465 shares of the technology company’s stock, valued at approximately $345,000.

Several other large investors have also made changes to their positions in ANET. Raymond James Financial Services Advisors Inc. increased its position in Arista Networks by 16.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,642 shares of the technology company’s stock worth $3,981,000 after buying an additional 3,005 shares during the period. Chicago Partners Investment Group LLC raised its stake in Arista Networks by 4.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,532 shares of the technology company’s stock valued at $472,000 after purchasing an additional 104 shares during the last quarter. Advisor Partners II LLC boosted its holdings in Arista Networks by 1.2% in the 3rd quarter. Advisor Partners II LLC now owns 10,265 shares of the technology company’s stock valued at $1,888,000 after purchasing an additional 118 shares during the period. Graypoint LLC grew its position in Arista Networks by 6.6% in the 3rd quarter. Graypoint LLC now owns 1,485 shares of the technology company’s stock worth $273,000 after purchasing an additional 92 shares during the last quarter. Finally, TIAA Trust National Association bought a new position in shares of Arista Networks during the 3rd quarter worth about $13,406,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 6.1 %

Shares of ANET stock traded up $17.96 on Friday, reaching $314.03. The company had a trading volume of 5,518,066 shares, compared to its average volume of 3,012,839. The stock has a market cap of $98.40 billion, a PE ratio of 43.75, a PEG ratio of 2.80 and a beta of 1.13. The company has a 50-day moving average of $279.96 and a 200-day moving average of $251.85. Arista Networks, Inc. has a 12 month low of $133.42 and a 12 month high of $316.22.

Arista Networks (NYSE:ANETGet Free Report) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Arista Networks announced that its board has initiated a share buyback plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays lifted their target price on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp upped their target price on Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler lifted their price target on shares of Arista Networks from $268.00 to $302.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $293.00.

Read Our Latest Report on ANET

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 356 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $274.91, for a total value of $97,867.96. Following the completion of the transaction, the director now owns 2,570 shares in the company, valued at $706,518.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jayshree Ullal sold 1,500 shares of Arista Networks stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $258.77, for a total value of $388,155.00. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $4,575,312.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 356 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $274.91, for a total value of $97,867.96. Following the transaction, the director now directly owns 2,570 shares of the company’s stock, valued at $706,518.70. The disclosure for this sale can be found here. In the last three months, insiders sold 337,410 shares of company stock valued at $96,626,954. 3.54% of the stock is owned by corporate insiders.

Arista Networks Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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