Groesbeck Investment Management Corp NJ Purchases 530 Shares of Arista Networks, Inc. (NYSE:ANET)

Groesbeck Investment Management Corp NJ increased its position in Arista Networks, Inc. (NYSE:ANET) by 22.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,895 shares of the technology company’s stock after buying an additional 530 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Arista Networks were worth $682,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ANET. AXQ Capital LP bought a new position in shares of Arista Networks during the 3rd quarter valued at about $791,000. Advisor Resource Council boosted its holdings in shares of Arista Networks by 507.9% during the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after purchasing an additional 5,866 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Arista Networks by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after purchasing an additional 194 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after purchasing an additional 16,081 shares during the last quarter. Finally, Cambridge Trust Co. boosted its holdings in shares of Arista Networks by 70.1% during the 3rd quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after purchasing an additional 20,704 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,415 shares of company stock valued at $98,017,152. 18.99% of the stock is currently owned by company insiders.

Arista Networks Stock Up 0.1 %

Arista Networks stock traded up $0.18 during midday trading on Thursday, reaching $259.45. The stock had a trading volume of 955,904 shares, compared to its average volume of 2,436,838. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The firm has a market cap of $81.11 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09. The company has a fifty day moving average of $281.39 and a 200 day moving average of $244.06.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Equities research analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ANET. Piper Sandler increased their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 8th. Barclays increased their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their price target on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. 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’s stock. According to MarketBeat, the stock presently has an average 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.