Whitaker Myers Wealth Managers LTD. Has $377,000 Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Whitaker Myers Wealth Managers LTD. cut its Arista Networks stake by 84.1% in Q4, selling 15,275 shares and finishing the period with 2,881 shares worth about $377,000.
• Insiders have been net sellers recently—disposing of 199,632 shares in the last quarter (insiders now own 3.39%)—while institutional investors hold roughly 82.47% of the stock.
• Arista beat recent quarterly EPS and revenue estimates with strong year‑over‑year growth, and several analysts have raised price targets (consensus target ~$176.44) and upgraded ratings to Buy/Strong‑Buy.

Whitaker Myers Wealth Managers LTD. cut its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 84.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,881 shares of the technology company's stock after selling 15,275 shares during the period. Whitaker Myers Wealth Managers LTD.'s holdings in Arista Networks were worth $377,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ANET. Massachusetts Financial Services Co. MA boosted its holdings in shares of Arista Networks by 2,829.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company's stock worth $833,630,000 after buying an additional 5,525,828 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Arista Networks by 82.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company's stock valued at $1,396,939,000 after purchasing an additional 4,332,659 shares during the period. Holocene Advisors LP bought a new stake in Arista Networks in the 2nd quarter valued at about $247,451,000. AQR Capital Management LLC lifted its holdings in shares of Arista Networks by 13.2% during the 2nd quarter. AQR Capital Management LLC now owns 8,742,112 shares of the technology company's stock worth $892,919,000 after acquiring an additional 1,022,303 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company's stock worth $14,571,121,000 after acquiring an additional 1,007,730 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the completion of the sale, the director directly owned 9,529 shares in the company, valued at $1,220,283.74. This represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Duda sold 26,000 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $3,487,640.00. Following the completion of the transaction, the insider owned 502,400 shares of the company's stock, valued at $67,391,936. This trade represents a 4.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 199,632 shares of company stock valued at $26,873,604. Insiders own 3.39% of the company's stock.

Arista Networks Price Performance

Shares of ANET stock opened at $145.47 on Friday. The company has a market cap of $182.79 billion, a P/E ratio of 52.71, a P/E/G ratio of 2.56 and a beta of 1.48. Arista Networks, Inc. has a one year low of $66.59 and a one year high of $164.94. The firm has a 50-day moving average of $133.86 and a 200-day moving average of $135.90.

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

Analysts Set New Price Targets

ANET has been the subject of a number of recent analyst reports. Rosenblatt Securities raised shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their price target for the stock from $165.00 to $180.00 in a report on Tuesday. Needham & Company LLC upped their price target on shares of Arista Networks from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, February 13th. Susquehanna upgraded shares of Arista Networks to a "strong-buy" rating in a research report on Wednesday, April 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arista Networks in a research report on Friday, March 27th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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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