National Wealth Management Group LLC Buys Shares of 8,892 Arista Networks, Inc. $ANET

National Wealth Management Group LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,892 shares of the technology company’s stock, valued at approximately $1,296,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Arista Networks during the second quarter valued at approximately $1,228,177,000. Massachusetts Financial Services Co. MA increased its position in Arista Networks by 2,829.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock worth $833,630,000 after buying an additional 5,525,828 shares in the last quarter. Nordea Investment Management AB raised its stake in Arista Networks by 193.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after acquiring an additional 4,656,021 shares during the period. Holocene Advisors LP bought a new stake in shares of Arista Networks during the 2nd quarter valued at $247,451,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Arista Networks by 123.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,068,064 shares of the technology company’s stock worth $313,894,000 after purchasing an additional 1,692,467 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $145.00 to $159.00 in a report on Monday, January 5th. Morgan Stanley cut their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Finally, Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the sale, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. This trade represents a 31.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,464 shares of company stock worth $27,687,068 in the last ninety days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Down 1.5%

Shares of NYSE ANET opened at $136.30 on Monday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The company’s 50-day simple moving average is $128.62 and its 200-day simple moving average is $134.12. The firm has a market cap of $171.64 billion, a price-to-earnings ratio of 51.82, a price-to-earnings-growth ratio of 2.29 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 EPS. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.