Mirabella Financial Services LLP Increases Stock Holdings in Arista Networks, Inc. $ANET

Mirabella Financial Services LLP boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 136.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,688 shares of the technology company’s stock after acquiring an additional 13,683 shares during the quarter. Mirabella Financial Services LLP’s holdings in Arista Networks were worth $3,445,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC grew its stake in Arista Networks by 33.0% in the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock worth $2,808,000 after purchasing an additional 4,780 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in Arista Networks during the third quarter worth $8,263,000. National Wealth Management Group LLC acquired a new position in Arista Networks in the third quarter worth $1,296,000. Vanguard Group Inc. increased its stake in Arista Networks by 1.2% during 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 purchasing an additional 1,136,167 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Arista Networks during the second quarter worth $247,451,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the sale, the director owned 9,529 shares of the company’s stock, valued at $1,220,283.74. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total value of $3,701,100.00. Following the completion of the transaction, the insider directly owned 512,400 shares of the company’s stock, valued at approximately $72,940,140. The trade was a 4.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 196,237 shares of company stock worth $25,865,760 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 1.3%

NYSE ANET opened at $135.37 on Tuesday. The company has a 50-day moving average price of $134.82 and a two-hundred day moving average price of $137.34. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The stock has a market cap of $170.09 billion, a price-to-earnings ratio of 49.05, a price-to-earnings-growth ratio of 2.37 and a beta of 1.46.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. KeyCorp reissued an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Barclays restated an “overweight” rating and set a $184.00 price objective (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Needham & Company LLC upped their price objective on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $176.47.

Arista Networks 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.