17,300 Shares in Arista Networks, Inc. $ANET Acquired by RDA Financial Network

RDA Financial Network purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,300 shares of the technology company’s stock, valued at approximately $2,521,000.

Several other hedge funds also recently made changes to their positions in ANET. Wedmont Private Capital grew its position in Arista Networks by 2.5% in the third quarter. Wedmont Private Capital now owns 20,141 shares of the technology company’s stock worth $2,926,000 after buying an additional 486 shares during the last quarter. Czech National Bank boosted its stake in shares of Arista Networks by 4.0% during the 3rd quarter. Czech National Bank now owns 261,759 shares of the technology company’s stock worth $38,141,000 after acquiring an additional 10,026 shares in the last quarter. Ignite Planners LLC grew its holdings in shares of Arista Networks by 4.2% in the 3rd quarter. Ignite Planners LLC now owns 2,290 shares of the technology company’s stock worth $334,000 after acquiring an additional 93 shares during the last quarter. Balefire LLC acquired a new stake in shares of Arista Networks during the third quarter worth $247,000. Finally, Carr Financial Group Corp lifted its holdings in shares of Arista Networks by 6.1% during the third quarter. Carr Financial Group Corp now owns 6,465 shares of the technology company’s stock valued at $942,000 after purchasing an additional 374 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 3.0%

Shares of NYSE:ANET opened at $122.33 on Thursday. The firm has a fifty day moving average of $137.41 and a two-hundred day moving average of $127.44. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a market capitalization of $154.05 billion, a P/E ratio of 46.51, a price-to-earnings-growth ratio of 2.42 and a beta of 1.41.

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

Insider Transactions at Arista Networks

In other news, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,343,860.00. Following the completion of the sale, the insider directly owned 542,400 shares in the company, valued at $69,758,064. The trade was a 4.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $128.09, for a total value of $1,024,720.00. Following the completion of the transaction, the director owned 25,784 shares in the company, valued at $3,302,672.56. This represents a 23.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 218,464 shares of company stock valued at $30,309,988 over the last 90 days. Company insiders own 3.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Evercore ISI lifted their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Needham & Company LLC increased their target price on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Wolfe Research raised their target price on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, Piper Sandler reiterated a “neutral” rating and set a $145.00 price target (up previously from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $163.56.

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.