Tanager Wealth Management LLP Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Tanager Wealth Management LLP bought a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,160 shares of the technology company’s stock, valued at approximately $349,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW Henssler & Associates Ltd. raised its holdings in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after buying an additional 2,219 shares during the period. Sumitomo Life Insurance Co. increased its position in shares of Arista Networks by 69.8% during the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after acquiring an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC acquired a new stake in shares of Arista Networks during the third quarter worth $2,318,000. Greenleaf Trust lifted its position in Arista Networks by 20.1% in the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after acquiring an additional 2,216 shares in the last quarter. Finally, Forsta AP Fonden boosted its stake in Arista Networks by 10.0% in the 3rd quarter. Forsta AP Fonden now owns 72,800 shares of the technology company’s stock worth $27,942,000 after purchasing an additional 6,600 shares during the period. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ANET shares. Evercore ISI boosted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Rosenblatt Securities upped their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, UBS Group lifted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $115.11 on Friday. The business has a fifty day simple moving average of $112.58 and a two-hundred day simple moving average of $99.48. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The company has a market capitalization of $145.01 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company posted $0.41 EPS. Arista Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock worth $28,538,497 over the last three months. Insiders own 3.54% of the company’s stock.

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.