Global Retirement Partners LLC Purchases 8,688 Shares of Arista Networks, Inc. (NYSE:ANET)

Global Retirement Partners LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 285.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,733 shares of the technology company’s stock after acquiring an additional 8,688 shares during the quarter. Global Retirement Partners LLC’s holdings in Arista Networks were worth $1,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Foundations Investment Advisors LLC boosted its stake in Arista Networks by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after acquiring an additional 31 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Arista Networks by 5.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,917 shares of the technology company’s stock worth $2,271,000 after buying an additional 316 shares during the period. Private Advisor Group LLC raised its holdings in Arista Networks by 14.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,868 shares of the technology company’s stock worth $5,706,000 after buying an additional 1,867 shares during the period. Brighton Jones LLC raised its holdings in Arista Networks by 12.2% during the 3rd quarter. Brighton Jones LLC now owns 1,851 shares of the technology company’s stock worth $711,000 after buying an additional 201 shares during the period. Finally, Global Trust Asset Management LLC raised its holdings in Arista Networks by 6.5% during the 3rd quarter. Global Trust Asset Management LLC now owns 3,141 shares of the technology company’s stock worth $1,206,000 after buying an additional 193 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ANET. Barclays raised their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Rosenblatt Securities restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a report on Tuesday. UBS Group raised their target price on shares of Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.79.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 288 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last three months, insiders sold 260,056 shares of company stock valued at $30,225,623. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 4.9 %

NYSE:ANET opened at $98.31 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The firm has a fifty day simple moving average of $113.94 and a 200 day simple moving average of $101.57. The stock has a market capitalization of $123.84 billion, a PE ratio of 44.28, a P/E/G ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.90 billion. On average, equities analysts predict that Arista Networks, Inc. will post 2.18 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.