ABLE Financial Group LLC Acquires Shares of 8,351 Arista Networks, Inc. $ANET

Key Points

• ABLE Financial Group acquired a new stake of 8,351 shares of Arista Networks in Q4, valued at about $1.09 million, while institutional investors now own roughly 82.47% of the company.
• Arista beat quarterly estimates, reporting $0.82 EPS vs. $0.75 expected and revenue of $2.49 billion (up 28.9% year-over-year), with a net margin of 38.99% and ROE of 30.37%.
• Company insiders have sold about 199,632 shares (~$26.9 million) over the last 90 days, yet analysts maintain a “Moderate Buy” consensus with an average price target of $176.44 and several firms raising targets up to $200.

ABLE Financial Group LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,351 shares of the technology company's stock, valued at approximately $1,094,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $202,000. Bison Wealth LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $251,000. Sivia Capital Partners LLC grew its position in shares of Arista Networks by 48.4% in the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company's stock valued at $1,097,000 after purchasing an additional 3,496 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of Arista Networks by 31.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,193 shares of the technology company's stock valued at $429,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 0.1%

ANET opened at $147.27 on Monday. The firm has a market capitalization of $185.05 billion, a PE ratio of 53.36, a PEG ratio of 2.60 and a beta of 1.48. Arista Networks, Inc. has a twelve month low of $66.59 and a twelve month high of $164.94. The firm's 50-day moving average price is $133.97 and its 200 day moving average price is $135.81.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. Arista Networks's quarterly revenue was up 28.9% compared to the same quarter last year. As a group, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the transaction, the director directly owned 12,574 shares of the company's stock, valued at $1,665,300.56. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated 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 transaction, the director directly owned 9,784 shares in the company, valued at $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 199,632 shares of company stock valued at $26,873,604 over the last ninety days. Company insiders own 3.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ANET shares. UBS Group set a $200.00 target price on shares of Arista Networks in a research report on Tuesday, February 24th. Rosenblatt Securities upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their target price for the company from $165.00 to $180.00 in a research report on Tuesday, April 7th. Piper Sandler reiterated an "overweight" rating and issued a $175.00 target price (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. KeyCorp reiterated an "overweight" rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Evercore reiterated an "outperform" rating and issued a $200.00 target price on shares of Arista Networks in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $176.44.

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.

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