Onefund LLC Has $300,000 Position in Arista Networks, Inc. (NYSE:ANET)

Onefund LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 302.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,714 shares of the technology company’s stock after acquiring an additional 2,040 shares during the quarter. Onefund LLC’s holdings in Arista Networks were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Strategic Blueprint LLC acquired a new stake in Arista Networks in the 3rd quarter valued at approximately $266,000. Mutual Advisors LLC raised its position in Arista Networks by 13.1% in the 3rd quarter. Mutual Advisors LLC now owns 5,154 shares of the technology company’s stock valued at $2,039,000 after buying an additional 595 shares during the last quarter. Financial Advocates Investment Management raised its position in Arista Networks by 5.5% in the 3rd quarter. Financial Advocates Investment Management now owns 799 shares of the technology company’s stock valued at $307,000 after buying an additional 42 shares during the last quarter. HM Payson & Co. grew its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in Arista Networks by 34.8% in the third quarter. AustralianSuper Pty Ltd now owns 11,338 shares of the technology company’s stock valued at $4,352,000 after purchasing an additional 2,930 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.7 %

NYSE:ANET opened at $93.10 on Friday. The stock has a market cap of $117.41 billion, a P/E ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09. The stock has a 50 day simple moving average of $111.80 and a 200 day simple moving average of $102.08. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 433,441 shares of company stock valued at $46,538,462 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ANET. Piper Sandler restated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group raised their price target on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their target price on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $113.79.

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.