Clearstead Trust LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,892 shares of the technology company’s stock, valued at approximately $917,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sapient Capital LLC purchased a new position in Arista Networks during the 4th quarter worth $364,000. Axxcess Wealth Management LLC boosted its holdings in Arista Networks by 26.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,442 shares of the technology company’s stock worth $1,988,000 after acquiring an additional 1,775 shares in the last quarter. M&T Bank Corp grew its stake in shares of Arista Networks by 186.2% during the fourth quarter. M&T Bank Corp now owns 48,245 shares of the technology company’s stock worth $11,362,000 after acquiring an additional 31,386 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Arista Networks by 8.1% during the fourth quarter. Merit Financial Group LLC now owns 2,244 shares of the technology company’s stock valued at $528,000 after acquiring an additional 168 shares in the last quarter. Finally, Goldstream Capital Management Ltd purchased a new position in shares of Arista Networks in the 4th quarter valued at approximately $1,704,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Arista Networks Stock Performance
Shares of ANET traded up $12.54 during mid-day trading on Friday, hitting $274.40. 2,883,651 shares of the company were exchanged, compared to its average volume of 2,426,995. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The stock has a market cap of $85.79 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The company has a 50 day moving average of $279.07 and a 200-day moving average of $249.25.
Insiders Place Their Bets
In other news, insider John F. Mccool sold 420 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John F. Mccool sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. Insiders have sold a total of 335,974 shares of company stock valued at $96,252,685 in the last 90 days. 18.99% of the stock is owned by insiders.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. JMP Securities restated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Barclays raised their target price on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.53.
Get Our Latest Stock Analysis on ANET
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.
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