Latitude Advisors LLC Has $420,000 Position in Arista Networks, Inc. (NYSE:ANET)

Latitude Advisors LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 299.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,798 shares of the technology company’s stock after purchasing an additional 2,848 shares during the quarter. Latitude Advisors LLC’s holdings in Arista Networks were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its stake in shares of Arista Networks by 9.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,041 shares of the technology company’s stock valued at $783,000 after acquiring an additional 175 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Arista Networks by 10.9% in the 3rd quarter. Gateway Investment Advisers LLC now owns 1,469 shares of the technology company’s stock valued at $564,000 after buying an additional 144 shares during the period. Annex Advisory Services LLC increased its position in Arista Networks by 11.6% in the 3rd quarter. Annex Advisory Services LLC now owns 906 shares of the technology company’s stock valued at $348,000 after buying an additional 94 shares in the last quarter. Carnegie Investment Counsel raised its stake in Arista Networks by 117.9% during the 3rd quarter. Carnegie Investment Counsel now owns 7,908 shares of the technology company’s stock worth $3,035,000 after buying an additional 4,278 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Arista Networks by 14.2% in the third quarter. Exchange Traded Concepts LLC now owns 15,652 shares of the technology company’s stock valued at $6,008,000 after acquiring an additional 1,948 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 1.4 %

Shares of NYSE ANET opened at $120.15 on Tuesday. The firm has a market cap of $151.36 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock has a fifty day simple moving average of $113.21 and a two-hundred day simple moving average of $100.04. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research reports. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays cut their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $105.83.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is owned by insiders.

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.