United Asset Strategies Inc. Makes New $909,000 Investment in Arista Networks, Inc. $ANET

United Asset Strategies Inc. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,239 shares of the technology company’s stock, valued at approximately $909,000.

Other hedge funds have also modified their holdings of the company. West Bancorporation Inc. purchased a new position in shares of Arista Networks during the 3rd quarter valued at $203,000. HB Wealth Management LLC increased its stake in Arista Networks by 12.7% in the 3rd quarter. HB Wealth Management LLC now owns 32,410 shares of the technology company’s stock worth $4,722,000 after buying an additional 3,658 shares in the last quarter. Caldwell Trust Co raised its holdings in Arista Networks by 1.9% during the third quarter. Caldwell Trust Co now owns 45,607 shares of the technology company’s stock valued at $6,645,000 after acquiring an additional 868 shares during the period. Spire Wealth Management lifted its position in shares of Arista Networks by 48.5% in the third quarter. Spire Wealth Management now owns 84,650 shares of the technology company’s stock valued at $12,334,000 after acquiring an additional 27,646 shares in the last quarter. Finally, Texas Bank & Trust Co bought a new position in shares of Arista Networks in the third quarter worth about $427,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

ANET stock opened at $123.77 on Friday. The firm has a fifty day moving average price of $131.12 and a 200 day moving average price of $131.44. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The firm has a market cap of $155.86 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.41.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on ANET shares. Rosenblatt Securities reissued a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research note on Monday, November 24th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Needham & Company LLC boosted their target price on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Wolfe Research lifted their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, Morgan Stanley decreased their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Insider Activity at Arista Networks

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

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.