Fifth Third Wealth Advisors LLC Buys 4,963 Shares of Arista Networks, Inc. $ANET

Fifth Third Wealth Advisors LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 10.3% during the third quarter, Holdings Channel.com reports. The fund owned 53,292 shares of the technology company’s stock after buying an additional 4,963 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Arista Networks were worth $7,765,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ANET. SteelPeak Wealth LLC lifted its stake in Arista Networks by 23.8% in the 2nd quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after purchasing an additional 7,779 shares during the last quarter. Penobscot Investment Management Company Inc. raised its stake in Arista Networks by 7.8% in the second quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after buying an additional 2,815 shares during the period. Vanguard Group Inc. lifted its position in shares of Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $247,451,000. Finally, Soltis Investment Advisors LLC boosted its stake in shares of Arista Networks by 99.3% during the 2nd quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock worth $4,136,000 after acquiring an additional 20,141 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

NYSE:ANET opened at $133.63 on Friday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The firm’s 50-day simple moving average is $133.33 and its 200 day simple moving average is $130.56. The firm has a market cap of $168.27 billion, a price-to-earnings ratio of 50.81, a P/E/G ratio of 2.25 and a beta of 1.41.

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

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the sale, the director directly owned 25,784 shares of the company’s stock, valued at approximately $3,302,672.56. This represents a 23.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00. Following the completion of the transaction, the insider owned 532,400 shares in the company, valued at $65,570,384. The trade was a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 208,464 shares of company stock worth $27,418,668. 3.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Morgan Stanley cut their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Needham & Company LLC upped their price target on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Wells Fargo & Company increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $163.56.

Arista Networks Profile

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.