Aaron Wealth Advisors LLC Sells 4,590 Shares of Arista Networks, Inc. $ANET

Aaron Wealth Advisors LLC trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 23.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,342 shares of the technology company’s stock after selling 4,590 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Arista Networks were worth $2,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Arista Networks by 1.0% in the third quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after acquiring an additional 1,007,730 shares during the last quarter. State Street Corp increased its stake in Arista Networks by 0.5% in the third quarter. State Street Corp now owns 46,342,551 shares of the technology company’s stock valued at $6,752,573,000 after acquiring an additional 245,976 shares during the last quarter. Invesco Ltd. increased its stake in Arista Networks by 1.8% in the third quarter. Invesco Ltd. now owns 10,094,255 shares of the technology company’s stock valued at $1,470,834,000 after acquiring an additional 181,813 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Arista Networks by 82.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock valued at $1,396,939,000 after acquiring an additional 4,332,659 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Arista Networks by 13.2% in the second quarter. AQR Capital Management LLC now owns 8,742,112 shares of the technology company’s stock valued at $892,919,000 after acquiring an additional 1,022,303 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $175.00 target price (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. TD Cowen assumed coverage on shares of Arista Networks in a research report on Thursday, March 12th. They issued a “buy” rating and a $170.00 target price on the stock. KeyCorp restated an “overweight” rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company raised their target price on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Finally, Susquehanna upgraded shares of Arista Networks to a “strong-buy” rating in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.61.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $126.23 on Tuesday. The firm has a market cap of $158.61 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 2.24 and a beta of 1.48. The firm’s fifty day moving average is $134.29 and its 200-day moving average is $135.88. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

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

Insider Transactions at Arista Networks

In other news, 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 transaction of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total transaction of $240,378.60. Following the transaction, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 199,632 shares of company stock worth $26,873,604. Company insiders own 3.39% of the company’s stock.

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.