10,699 Shares in Arista Networks, Inc. $ANET Acquired by Virtus Wealth Solutions LLC

Virtus Wealth Solutions LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,699 shares of the technology company’s stock, valued at approximately $1,559,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Arista Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock worth $14,571,121,000 after buying an additional 1,007,730 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of Arista Networks by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after buying an additional 263,272 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arista Networks by 0.5% in the second quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after buying an additional 128,977 shares during the period. Norges Bank bought a new position in Arista Networks during the second quarter valued at about $1,228,177,000. Finally, Schroder Investment Management Group grew its holdings in Arista Networks by 14.8% during the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after acquiring an additional 1,350,593 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ANET shares. The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $175.00 target price (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Needham & Company LLC lifted their price target on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, UBS Group set a $200.00 price objective on Arista Networks in a research report on Tuesday. Seventeen investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $176.88.

Arista Networks Trading Up 3.2%

NYSE:ANET opened at $132.90 on Thursday. The business’s fifty day moving average price is $134.19 and its 200 day moving average price is $137.44. The firm has a market capitalization of $167.00 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.28 and a beta of 1.42. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the completion of the sale, the director directly owned 9,529 shares in the company, valued at approximately $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 194,422 shares of company stock worth $25,620,741. 3.39% of the stock is currently owned by company insiders.

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.