Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Concentrum Wealth Management

Concentrum Wealth Management grew its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 302.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,752 shares of the technology company's stock after purchasing an additional 8,078 shares during the quarter. Concentrum Wealth Management's holdings in Arista Networks were worth $1,188,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of Arista Networks by 193.2% during the 4th quarter. Cerity Partners LLC now owns 98,094 shares of the technology company's stock valued at $10,397,000 after buying an additional 64,640 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $9,000,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 480 shares of the technology company's stock worth $53,000 after purchasing an additional 360 shares in the last quarter. Trek Financial LLC raised its position in shares of Arista Networks by 309.7% during the 4th quarter. Trek Financial LLC now owns 2,458 shares of the technology company's stock worth $272,000 after purchasing an additional 1,858 shares during the last quarter. Finally, FMR LLC lifted its stake in Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company's stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,031 shares of company stock worth $39,364,943 over the last ninety days. Company insiders own 3.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Morgan Stanley reduced their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research note on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Finally, Piper Sandler lowered their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $108.50.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $2.95 during mid-day trading on Thursday, reaching $73.05. 7,160,629 shares of the company's stock were exchanged, compared to its average volume of 9,159,585. The company's 50-day moving average is $90.32 and its 200-day moving average is $100.45. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The firm has a market capitalization of $92.12 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.