Arista Networks, Inc. (NYSE:ANET) Stake Raised by Shaker Investments LLC OH

Shaker Investments LLC OH increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 252.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,959 shares of the technology company’s stock after purchasing an additional 40,808 shares during the period. Arista Networks makes up 2.6% of Shaker Investments LLC OH’s portfolio, making the stock its 8th largest holding. Shaker Investments LLC OH’s holdings in Arista Networks were worth $6,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks in the fourth quarter valued at approximately $242,000. Silver Oak Securities Incorporated grew its holdings 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 acquiring an additional 14,843 shares in the last quarter. CENTRAL TRUST Co increased its position in Arista Networks by 475.5% during the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after purchasing an additional 3,457 shares during the period. Triasima Portfolio Management inc. raised its holdings in shares of Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after purchasing an additional 61,833 shares in the last quarter. Finally, GW Henssler & Associates Ltd. lifted its position in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, The Goldman Sachs Group boosted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Insider Activity

In other Arista Networks news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $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 ninety days, insiders sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Up 1.4 %

Shares of Arista Networks stock opened at $120.15 on Tuesday. The firm has a market cap of $151.36 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The business’s fifty day simple moving average is $113.21 and its 200-day simple moving average is $100.04.

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.