Benjamin Edwards Inc. Has $4.84 Million Holdings in Arista Networks, Inc. $ANET

Benjamin Edwards Inc. grew its stake in Arista Networks, Inc. (NYSE:ANET) by 19.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,242 shares of the technology company’s stock after buying an additional 5,427 shares during the period. Benjamin Edwards Inc.’s holdings in Arista Networks were worth $4,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ANET. AdvisorNet Financial Inc grew its position in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Crown Wealth Group LLC raised its stake in shares of Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after purchasing an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc lifted its position in Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares during the period. Stablepoint Partners LLC lifted its position in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares during the period. Finally, Pure Financial Advisors LLC boosted its stake in Arista Networks by 1.9% during the third quarter. Pure Financial Advisors LLC now owns 4,333 shares of the technology company’s stock worth $631,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $123.05 on Friday. The company has a 50 day moving average price of $130.43 and a 200 day moving average price of $131.65. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The stock has a market capitalization of $154.95 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.40 earnings per share. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 216,464 shares of company stock valued at $28,488,988. 3.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on ANET shares. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Wolfe Research lifted their price objective on Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Morgan Stanley lowered their price objective 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. Finally, Wells Fargo & Company raised their target price on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

Arista Networks Company 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.