Lee Danner & Bass Inc. Takes Position in Arista Networks, Inc. (NYSE:ANET)

Lee Danner & Bass Inc. acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,060 shares of the technology company’s stock, valued at approximately $559,000.

Several other large investors also recently made changes to their positions in ANET. Independent Solutions Wealth Management LLC lifted its stake in Arista Networks by 294.2% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 30,935 shares of the technology company’s stock valued at $3,419,000 after buying an additional 23,087 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Arista Networks by 299.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 14,181 shares of the technology company’s stock valued at $1,567,000 after buying an additional 10,633 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its stake in Arista Networks by 300.0% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 8,120 shares of the technology company’s stock valued at $898,000 after buying an additional 6,090 shares in the last quarter. HUB Investment Partners LLC lifted its stake in Arista Networks by 326.9% during the fourth quarter. HUB Investment Partners LLC now owns 17,021 shares of the technology company’s stock valued at $1,881,000 after buying an additional 13,034 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in Arista Networks by 310.1% during the fourth quarter. Whittier Trust Co. now owns 2,600 shares of the technology company’s stock valued at $287,000 after buying an additional 1,966 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.3 %

Shares of ANET stock opened at $83.26 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The business’s 50 day moving average is $102.53 and its two-hundred day moving average is $101.60. The company has a market cap of $104.99 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results 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 company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ANET shares. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler reissued a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research report on Wednesday, February 19th. Finally, Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.