Parisi Gray Wealth Management Acquires 4,248 Shares of Arista Networks, Inc. $ANET

Parisi Gray Wealth Management lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 73.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,010 shares of the technology company’s stock after acquiring an additional 4,248 shares during the quarter. Parisi Gray Wealth Management’s holdings in Arista Networks were worth $1,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Brighton Jones LLC raised its stake in shares of Arista Networks by 321.7% during the 4th 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 stake in Arista Networks during the fourth quarter worth about $202,000. Bison Wealth LLC purchased a new stake in Arista Networks during the fourth quarter worth about $251,000. Gamco Investors INC. ET AL raised its position in Arista Networks by 70.9% in the first quarter. Gamco Investors INC. ET AL now owns 3,193 shares of the technology company’s stock worth $247,000 after acquiring an additional 1,325 shares during the period. Finally, State of Wyoming purchased a new position in Arista Networks in the first quarter valued at about $631,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the sale, the director directly owned 25,784 shares of the company’s stock, valued at approximately $3,302,672.56. This represents a 23.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,852,324. This trade represents a 69.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 216,464 shares of company stock worth $28,598,588 in the last quarter. 3.39% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $131.92 on Friday. The company’s fifty day simple moving average is $135.01 and its two-hundred day simple moving average is $129.19. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The stock has a market capitalization of $166.13 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 2.52 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm 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%.The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the company earned $2.40 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ANET. The Goldman Sachs Group increased their target price on shares of Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Piper Sandler restated a “neutral” rating and issued a $145.00 target price (up from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Morgan Stanley dropped their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $163.56.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.