First Merchants Corp Purchases 1,890 Shares of Arista Networks, Inc. (NYSE:ANET)

First Merchants Corp boosted its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,520 shares of the technology company’s stock after acquiring an additional 1,890 shares during the quarter. First Merchants Corp’s holdings in Arista Networks were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC grew its stake in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC boosted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 2.8 %

ANET stock opened at $106.64 on Friday. The stock has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a P/E/G 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 firm has a 50-day simple moving average of $113.97 and a 200-day simple moving average of $100.72.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock worth $37,787,297 in the last ninety days. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Rosenblatt Securities increased their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $107.59.

About Arista Networks

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.