Principal Securities Inc. Has $4.07 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Principal Securities Inc. raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 335.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,790 shares of the technology company’s stock after purchasing an additional 28,333 shares during the period. Principal Securities Inc.’s holdings in Arista Networks were worth $4,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Creative Planning lifted its holdings in Arista Networks by 13.1% in the third quarter. Creative Planning now owns 109,174 shares of the technology company’s stock valued at $41,903,000 after buying an additional 12,612 shares during the period. Cornerstone Wealth Management LLC bought a new stake in shares of Arista Networks during the 3rd quarter valued at $207,000. Claro Advisors LLC lifted its stake in shares of Arista Networks by 81.5% in the 3rd quarter. Claro Advisors LLC now owns 1,069 shares of the technology company’s stock valued at $410,000 after purchasing an additional 480 shares during the period. Blue Trust Inc. boosted its position in shares of Arista Networks by 89.2% in the 3rd quarter. Blue Trust Inc. now owns 2,638 shares of the technology company’s stock worth $925,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of Arista Networks by 25.0% during the third quarter. Capital Investment Advisors LLC now owns 795 shares of the technology company’s stock worth $305,000 after purchasing an additional 159 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the sale, the insider now owns 288 shares in the company, valued at $28,391.76. The trade was a 95.65 % 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 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $106.64 on Monday. The firm has a market cap of $134.35 billion, a PE ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50 day simple moving average is $113.94 and its 200 day simple moving average is $101.06. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Rosenblatt Securities raised their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Evercore ISI boosted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Barclays lowered their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.