Fielder Capital Group LLC Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

Fielder Capital Group LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,185 shares of the technology company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new position in Arista Networks in the fourth quarter worth about $35,000. Atticus Wealth Management LLC raised its position in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of Arista Networks in the 3rd quarter valued at approximately $28,000. Sandy Spring Bank boosted its position in shares of Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in Arista Networks in the third quarter worth $29,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 1.6 %

NYSE:ANET traded up $4.42 during mid-day trading on Monday, hitting $278.82. 2,030,771 shares of the company traded hands, compared to its average volume of 2,450,893. The stock’s fifty day moving average price is $279.18 and its 200-day moving average price is $250.63. Arista Networks, Inc. has a one year low of $133.42 and a one year high of $307.74. The firm has a market cap of $87.17 billion, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm’s revenue was up 20.8% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 6.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. Piper Sandler lifted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company raised their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $285.53.

Insider Activity

In related news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John F. Mccool sold 420 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Insiders have sold 337,474 shares of company stock worth $96,640,840 in the last three months. Company insiders own 3.54% of the company’s stock.

About Arista Networks

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.