Richard Bernstein Advisors LLC Acquires 25,671 Shares of Arista Networks, Inc. (NYSE:ANET)

Richard Bernstein Advisors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 34,228 shares of the technology company’s stock after buying an additional 25,671 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Arista Networks were worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Stock Yards Bank & Trust Co. purchased a new position in shares of Arista Networks in the 4th quarter worth about $242,000. GHE LLC raised its position in Arista Networks by 319.0% in the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC boosted its stake in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares during the last quarter. Silver Oak Securities Incorporated grew its position in shares of Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after acquiring an additional 14,843 shares during the period. Finally, Proactive Wealth Strategies LLC increased its stake in shares of Arista Networks by 387.6% during the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after purchasing an additional 4,865 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ANET. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Citigroup upped their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. UBS Group upped their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 260,224 shares of company stock worth $30,242,856. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $92.85 on Wednesday. The firm has a fifty day moving average price of $112.78 and a two-hundred day moving average price of $102.13. The company has a market cap of $117.10 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company Profile

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.