Signature Estate & Investment Advisors LLC Grows Stock Holdings in Arista Networks, Inc. $ANET

Signature Estate & Investment Advisors LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 11.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 531,355 shares of the technology company’s stock after buying an additional 53,184 shares during the period. Arista Networks accounts for approximately 1.7% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 16th biggest position. Signature Estate & Investment Advisors LLC’s holdings in Arista Networks were worth $77,424,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bare Financial Services Inc lifted its holdings in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the last quarter. Finally, Solstein Capital LLC grew its stake in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Up 6.9%

ANET stock opened at $137.50 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock has a market capitalization of $173.15 billion, a price-to-earnings ratio of 52.28, a price-to-earnings-growth ratio of 2.32 and a beta of 1.42. The firm’s fifty day simple moving average is $131.78 and its two-hundred day simple moving average is $136.12.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the sale, the insider directly owned 12,976 shares of the company’s stock, valued at $1,598,124.16. This represents a 69.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 216,464 shares of company stock worth $27,553,548. Insiders own 3.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ANET. UBS Group reiterated a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Barclays reaffirmed an “overweight” rating and issued a $183.00 target price (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.