Cerity Partners LLC Purchases 64,640 Shares of Arista Networks, Inc. (NYSE:ANET)

by · The Markets Daily

Cerity Partners LLC boosted its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 193.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,094 shares of the technology company’s stock after purchasing an additional 64,640 shares during the quarter. Cerity Partners LLC’s holdings in Arista Networks were worth $10,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ANET. Morse Asset Management Inc bought a new stake in Arista Networks during the third quarter valued at $123,000. Continuum Advisory LLC raised its holdings in shares of Arista Networks by 783.8% in the 3rd quarter. Continuum Advisory LLC now owns 327 shares of the technology company’s stock valued at $126,000 after acquiring an additional 290 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Arista Networks by 13.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,359 shares of the technology company’s stock valued at $1,678,000 after acquiring an additional 503 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Arista Networks by 1.0% during the third quarter. Toronto Dominion Bank now owns 139,712 shares of the technology company’s stock worth $53,624,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Arista Networks by 193.2% in the third quarter. Sunbelt Securities Inc. now owns 689 shares of the technology company’s stock worth $264,000 after purchasing an additional 454 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Down 4.6 %

Shares of ANET opened at $72.53 on Friday. The stock has a market capitalization of $91.47 billion, a P/E ratio of 32.67, a PEG ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a fifty day simple moving average of $89.54 and a two-hundred day simple moving average of $100.29.

Arista Networks (NYSE:ANET – Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ANET. Morgan Stanley cut their price target on shares of Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler reduced their target price on Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $108.50.

View Our Latest Stock Report on Arista Networks

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is currently owned by insiders.

About Arista Networks

(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.

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