EverSource Wealth Advisors LLC Grows Position in Arista Networks, Inc. $ANET

EverSource Wealth Advisors LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 120.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,739 shares of the technology company’s stock after buying an additional 5,330 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Arista Networks were worth $996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Arista Networks during the 4th quarter valued at $202,000. Bison Wealth LLC bought a new position in Arista Networks in the 4th quarter worth $251,000. Harbour Investments Inc. increased its stake in Arista Networks by 9.4% in the 1st quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company’s stock worth $126,000 after buying an additional 139 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Arista Networks by 7.3% during the first quarter. Atria Wealth Solutions Inc. now owns 40,274 shares of the technology company’s stock valued at $3,120,000 after acquiring an additional 2,734 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ANET. The Goldman Sachs Group upped their price objective on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Piper Sandler restated a “neutral” rating and issued a $145.00 price target (up from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. UBS Group reiterated a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Finally, Wolfe Research raised their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.31.

Arista Networks Stock Down 0.0%

Shares of ANET opened at $128.54 on Friday. The stock has a market cap of $161.87 billion, a PE ratio of 48.87, a PEG ratio of 2.47 and a beta of 1.41. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The business has a 50-day simple moving average of $140.51 and a two-hundred day simple moving average of $125.14.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.40 earnings per share. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $148.42, for a total transaction of $8,608,360.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the sale, the chief executive officer owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,578,700 shares of company stock worth $231,687,618 over the last ninety days. 3.39% of the stock is owned by insiders.

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.