Napa Wealth Management Has $1.02 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Napa Wealth Management lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 298.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,248 shares of the technology company’s stock after buying an additional 6,925 shares during the period. Napa Wealth Management’s holdings in Arista Networks were worth $1,022,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Caitlin John LLC increased its holdings in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the period. New Millennium Group LLC increased its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Cranbrook Wealth Management LLC increased its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Finally, Trust Co. of Vermont increased its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $37,216,079 in the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler restated a “neutral” rating and issued a $89.00 price objective (up from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. KGI Securities downgraded Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. Needham & Company LLC cut their price target on shares of Arista Networks from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays cut their price target on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.07.

Arista Networks Price Performance

ANET stock opened at $92.26 on Tuesday. The stock has a market capitalization of $115.87 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The company’s 50-day moving average is $79.03 and its 200-day moving average is $97.25. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Arista Networks Company 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.