Concurrent Investment Advisors LLC Has $1.72 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Concurrent Investment Advisors LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 456.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,512 shares of the technology company’s stock after purchasing an additional 12,725 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Arista Networks were worth $1,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. acquired a new position in shares of Arista Networks in the 4th quarter valued at about $242,000. Silver Oak Securities Incorporated raised its stake in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares during the period. Proactive Wealth Strategies LLC raised its stake in 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 buying an additional 4,865 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in Arista Networks by 292.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after buying an additional 449,088 shares during the period. Finally, 5T Wealth LLC acquired a new position in Arista Networks during the 4th quarter worth approximately $1,046,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Down 4.9 %

Arista Networks stock opened at $98.31 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The business’s 50 day simple moving average is $113.94 and its 200 day simple moving average is $101.57. The company has a market cap of $123.84 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now 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. Over the last quarter, insiders have sold 260,056 shares of company stock worth $30,225,623. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research reports. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday. UBS Group upped their price target on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $113.79.

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.