FourThought Financial Partners LLC Has $544,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

FourThought Financial Partners LLC decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,311 shares of the technology company’s stock after selling 55 shares during the period. FourThought Financial Partners LLC’s holdings in Arista Networks were worth $544,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC acquired a new stake in Arista Networks during the third quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $29,000. BluePath Capital Management LLC bought a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $33,000. NBC Securities Inc. acquired a new position in Arista Networks in the third quarter worth approximately $33,000. Finally, Atticus Wealth Management LLC raised its position in Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after acquiring an additional 145 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Up 4.8 %

ANET stock traded up $12.54 during trading on Friday, reaching $274.40. 2,883,651 shares of the stock were exchanged, compared to its average volume of 2,426,995. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The company has a market capitalization of $85.79 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. The stock has a 50 day simple moving average of $279.07 and a 200-day simple moving average of $250.02.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business posted $1.25 earnings per share. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 6.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on ANET shares. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $320.00 in a research report on Friday. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Piper Sandler upped their price target on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $285.53.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 335,974 shares of company stock valued at $96,252,685. 18.99% of the stock is currently owned by corporate insiders.

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.