Sciencast Management LP Acquires 7,082 Shares of Arista Networks, Inc. (NYSE:ANET)

Sciencast Management LP raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 951.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,826 shares of the technology company’s stock after purchasing an additional 7,082 shares during the quarter. Sciencast Management LP’s holdings in Arista Networks were worth $865,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its position in Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the last quarter. Caitlin John LLC raised its position 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 acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Finally, New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 over the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 0.3 %

NYSE:ANET opened at $83.26 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock has a market cap of $104.99 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 3.10 and a beta of 1.08. The stock has a 50-day moving average price of $102.53 and a two-hundred day moving average price of $101.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ANET. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Piper Sandler restated a “neutral” rating and set a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Evercore ISI upped their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.