TD Private Client Wealth LLC Boosts Stake in Arista Networks, Inc. $ANET

TD Private Client Wealth LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 192.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,000 shares of the technology company’s stock after buying an additional 19,732 shares during the period. TD Private Client Wealth LLC’s holdings in Arista Networks were worth $4,371,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its position in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Bare Financial Services Inc raised its stake in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, Avion Wealth lifted its holdings in shares of Arista Networks by 69.3% during the third quarter. Avion Wealth now owns 337 shares of the technology company’s stock worth $49,000 after purchasing an additional 138 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00. Following the sale, the insider directly owned 532,400 shares of the company’s stock, valued at approximately $65,570,384. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total value of $1,070,320.00. Following the completion of the sale, the director owned 17,784 shares of the company’s stock, valued at $2,379,321.36. This trade represents a 31.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock valued at $28,488,988 over the last quarter. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of several research reports. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a report on Thursday, September 25th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Rosenblatt Securities reissued a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Price Performance

NYSE:ANET opened at $129.84 on Wednesday. The company has a 50 day moving average price of $129.27 and a 200-day moving average price of $132.52. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The firm has a market cap of $163.50 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.41.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $2.40 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

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.