Prime Capital Investment Advisors LLC Acquires 50,315 Shares of Arista Networks, Inc. $ANET

Prime Capital Investment Advisors LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 100.7% during the third quarter, Holdings Channel.com reports. The fund owned 100,289 shares of the technology company’s stock after buying an additional 50,315 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Arista Networks were worth $14,613,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. Cresset Asset Management LLC grew its position in shares of Arista Networks by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock valued at $2,698,362,000 after acquiring an additional 263,272 shares during the period. Geode Capital Management LLC increased its stake in shares of Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after purchasing an additional 128,977 shares during the last quarter. Norges Bank bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $1,228,177,000. Finally, Schroder Investment Management Group lifted its stake in Arista Networks by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the sale, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,464 shares of company stock valued at $27,553,548 in the last quarter. Insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

NYSE:ANET traded up $4.31 during trading hours on Friday, hitting $132.98. The company’s stock had a trading volume of 845,462 shares, compared to its average volume of 8,208,256. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock has a fifty day simple moving average of $131.66 and a 200-day simple moving average of $135.75. The company has a market capitalization of $167.46 billion, a P/E ratio of 50.63, a PEG ratio of 2.20 and a beta of 1.42.

Arista Networks (NYSE:ANET) last posted its 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. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business earned $2.40 earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ANET. Morgan Stanley dropped their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Barclays reaffirmed an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, UBS Group reiterated a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

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.