Artemis Wealth Advisors LLC Takes $1.46 Million Position in Arista Networks, Inc. $ANET

Key Points

• Artemis Wealth Advisors opened a new position in Arista by buying 10,000 shares worth about $1.46 million in Q3, making ANET its 21st-largest holding (~0.2% of assets).
• Wall Street sentiment is largely bullish: 17 Buy vs. 5 Hold ratings and a consensus price target of $176.88 (MarketBeat labels this a "Moderate Buy"), with analyst targets roughly in the $165–$200 range.
• Mixed signals — strong results but heavy insider selling: Arista beat Q4 expectations (EPS $0.82 vs. $0.75; revenue $2.49B, +28.9% YoY), yet insiders sold about 196,237 shares (~$25.9M) in the last 90 days, leaving insiders with 3.39% ownership.

Artemis Wealth Advisors LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the technology company's stock, valued at approximately $1,457,000. Arista Networks comprises about 0.2% of Artemis Wealth Advisors LLC's holdings, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Brighton Jones LLC lifted its stake in shares of Arista Networks by 321.7% in the 4th 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 bought a new stake in Arista Networks in the fourth quarter valued at about $202,000. Bison Wealth LLC acquired a new position in Arista Networks in the fourth quarter valued at about $251,000. Sivia Capital Partners LLC boosted its holdings in Arista Networks by 48.4% during the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company's stock worth $1,097,000 after buying an additional 3,496 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in Arista Networks by 35.6% during the second quarter. Sigma Planning Corp now owns 15,299 shares of the technology company's stock worth $1,565,000 after buying an additional 4,018 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $165.00 target price on shares of Arista Networks in a report on Friday, February 13th. UBS Group set a $200.00 price objective on Arista Networks in a report on Tuesday, February 24th. KeyCorp restated an "overweight" rating and set a $178.00 price objective (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Evercore reiterated an "outperform" rating and issued a $200.00 price objective on shares of Arista Networks in a 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. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $176.88.

Insider Activity

In other news, Director Yvonne Wassenaar sold 1,815 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the sale, the director owned 12,574 shares of the company's stock, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of 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. In the last ninety days, insiders sold 196,237 shares of company stock worth $25,865,760. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $139.16 on Friday. The stock's fifty day moving average price is $134.43 and its two-hundred day moving average price is $137.19. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The firm has a market cap of $174.86 billion, a price-to-earnings ratio of 50.42, a P/E/G ratio of 2.39 and a beta of 1.46.

Arista Networks (NYSE:ANET - Get Free Report) 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. 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 during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The firm's quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.

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