WJ Wealth Management LLC Has $476,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

WJ Wealth Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 303.6% during the fourth quarter, Holdings Channel reports. The firm owned 4,310 shares of the technology company’s stock after purchasing an additional 3,242 shares during the quarter. WJ Wealth Management LLC’s holdings in Arista Networks were worth $476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Zions Bancorporation N.A. raised its position in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after buying an additional 27 shares during the period. Intellectus Partners LLC raised its position in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the period. First Affirmative Financial Network raised its position in Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares during the period. Altman Advisors Inc. raised its position in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares during the period. Finally, Everpar Advisors LLC raised its position in Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after buying an additional 29 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Up 2.8 %

Shares of NYSE:ANET opened at $115.43 on Thursday. The business has a 50 day moving average price of $112.28 and a 200 day moving average price of $99.36. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a market cap of $145.41 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Barclays dropped their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Rosenblatt Securities upped their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,832 shares of company stock worth $28,538,497 in the last 90 days. 3.54% of the stock is owned by company insiders.

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.