Wealth Enhancement Advisory Services LLC Has $39.81 Million Holdings in Arista Networks, Inc. $ANET

Wealth Enhancement Advisory Services LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,982 shares of the technology company’s stock after purchasing an additional 10,144 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Arista Networks were worth $39,807,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC increased its stake in shares of Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after buying an additional 70 shares during the period. AdvisorNet Financial Inc grew its position in shares of 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 buying an additional 72 shares during the period. Crown Wealth Group LLC grew its position in shares of Arista Networks by 2.4% during the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after buying an additional 75 shares during the period. Fragasso Financial Advisors Inc lifted its holdings in shares of Arista Networks by 1.8% during the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after purchasing an additional 76 shares in the last quarter. Finally, Stablepoint Partners LLC raised its holdings in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after acquiring an additional 77 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $127.95 on Wednesday. The stock has a fifty day moving average of $128.50 and a 200-day moving average of $133.48. The stock has a market capitalization of $161.13 billion, a P/E ratio of 48.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $2.40 EPS. Arista Networks’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Barclays reiterated an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a research note on Thursday, September 25th. UBS Group reiterated a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a research report on Wednesday, December 3rd. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Activity

In related news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $128.61, for a total value of $3,858,300.00. Following the sale, the insider owned 12,976 shares in the company, valued at approximately $1,668,843.36. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the sale, the director owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 160,464 shares of company stock worth $20,494,988. Company insiders own 3.54% of the company’s stock.

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.