Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. boosted its position in Arista Networks, Inc. (NYSE:ANET) by 371.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,487 shares of the technology company’s stock after buying an additional 61,833 shares during the period. Arista Networks makes up approximately 1.7% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 15th largest holding. Triasima Portfolio Management inc.’s holdings in Arista Networks were worth $8,675,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Zions Bancorporation N.A. raised its stake in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC boosted its holdings in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after acquiring an additional 27 shares during the period. First Affirmative Financial Network boosted its holdings in Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares during the period. Altman Advisors Inc. boosted its stake in shares of Arista Networks by 0.5% in the 3rd 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, HM Payson & Co. boosted its stake in shares of Arista Networks by 28.2% in the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ANET shares. Piper Sandler reissued a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. UBS Group upped their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their target price on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Trading Down 0.3 %

ANET stock opened at $115.11 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The firm has a market cap of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50 day moving average is $112.87 and its 200-day moving average is $99.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $0.41 EPS. Arista Networks’s revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock valued at $28,538,497 in the last 90 days. 3.54% of the stock is owned by company insiders.

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.