Syon Capital LLC Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Syon Capital LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 18.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,821 shares of the technology company’s stock after acquiring an additional 435 shares during the quarter. Syon Capital LLC’s holdings in Arista Networks were worth $664,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Sandy Spring Bank increased its stake in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Arista Networks by 2.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after purchasing an additional 41 shares in the last quarter. PDS Planning Inc increased its stake in Arista Networks by 3.1% during the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after purchasing an additional 41 shares in the last quarter. Purus Wealth Management LLC increased its stake in Arista Networks by 0.5% during the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after purchasing an additional 43 shares in the last quarter. Finally, Congress Park Capital LLC increased its stake in Arista Networks by 0.6% during the 4th quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock valued at $1,823,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Insiders sold a total of 333,494 shares of company stock worth $95,632,321 over the last three months. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $0.06 during midday trading on Friday, hitting $264.70. The company’s stock had a trading volume of 2,504,912 shares, compared to its average volume of 2,483,029. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The company has a market cap of $82.75 billion, a P/E ratio of 40.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09. The business’s 50 day simple moving average is $279.04 and its 200 day simple moving average is $246.38.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Piper Sandler increased their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Finally, JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Company 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.