RFG Advisory LLC Has $4.46 Million Holdings in Arista Networks, Inc. $ANET

RFG Advisory LLC cut its position in Arista Networks, Inc. (NYSE:ANET) by 19.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,614 shares of the technology company’s stock after selling 7,491 shares during the quarter. RFG Advisory LLC’s holdings in Arista Networks were worth $4,461,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Walkner Condon Financial Advisors LLC boosted its holdings in shares of Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares in the last quarter. AdvisorNet Financial Inc grew its position in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. Crown Wealth Group LLC raised its stake in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after acquiring an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc boosted its stake in shares of Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after purchasing an additional 76 shares in the last quarter. Finally, Stablepoint Partners LLC increased its position in Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the transaction, the insider owned 522,400 shares in the company, valued at approximately $67,091,832. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 216,464 shares of company stock worth $27,553,548. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $141.79 on Tuesday. The company has a market capitalization of $178.55 billion, a price-to-earnings ratio of 53.91, a P/E/G ratio of 2.32 and a beta of 1.42. The business’s 50-day moving average is $132.06 and its 200-day moving average is $136.47. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Analyst Ratings Changes

Several research analysts have recently issued reports on ANET shares. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. UBS Group reissued a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a report on Monday, November 24th. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Finally, Morgan Stanley cut their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.