Retirement Capital Strategies Acquires 23,785 Shares of Arista Networks, Inc. (NYSE:ANET)

Retirement Capital Strategies raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,708 shares of the technology company’s stock after purchasing an additional 23,785 shares during the quarter. Arista Networks accounts for about 1.3% of Retirement Capital Strategies’ portfolio, making the stock its 20th largest position. Retirement Capital Strategies’ holdings in Arista Networks were worth $3,505,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks in the 3rd quarter worth about $44,000. True Wealth Design LLC lifted its holdings in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the last quarter. Transcendent Capital Group LLC lifted its holdings in shares of Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after acquiring an additional 75 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Arista Networks by 52.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock worth $70,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup lifted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Stock Performance

NYSE ANET opened at $77.53 on Tuesday. The company has a market capitalization of $97.77 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The company’s 50-day simple moving average is $108.24 and its two-hundred day simple moving average is $102.10. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.58.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were 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 owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks 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.