Planned Solutions Inc. Takes $310,000 Position in Arista Networks, Inc. (NYSE:ANET)

Planned Solutions Inc. bought a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,315 shares of the technology company’s stock, valued at approximately $310,000.

Several other large investors have also made changes to their positions in ANET. Morgan Stanley boosted its stake in shares of Arista Networks by 162.2% during the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after acquiring an additional 3,432,952 shares in the last quarter. Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter worth $308,885,000. FMR LLC raised its holdings in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the period. Schroder Investment Management Group boosted its holdings in Arista Networks by 439.3% during the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after acquiring an additional 1,025,815 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Arista Networks by 1,424.3% in the fourth quarter. 1832 Asset Management L.P. now owns 875,198 shares of the technology company’s stock worth $106,205,000 after purchasing an additional 817,781 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, insider John F. Mccool sold 416 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $234.00, for a total value of $97,344.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John F. Mccool sold 416 shares of Arista Networks stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $234.00, for a total transaction of $97,344.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $230.28, for a total value of $460,560.00. Following the transaction, the director now owns 64,946 shares of the company’s stock, valued at $14,955,764.88. The disclosure for this sale can be found here. Insiders have sold 286,084 shares of company stock valued at $79,741,091 over the last 90 days. 18.99% of the stock is owned by company insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $288.41 on Thursday. The business’s fifty day moving average is $274.45 and its two-hundred day moving average is $232.99. The firm has a market cap of $90.17 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.57 and a beta of 1.10. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research analyst reports. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. KeyCorp boosted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. The Goldman Sachs Group lifted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Piper Sandler lifted their price objective on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Finally, Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Profile

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.