Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by Savant Capital LLC

Savant Capital LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 308.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,642 shares of the technology company’s stock after acquiring an additional 48,814 shares during the quarter. Savant Capital LLC’s holdings in Arista Networks were worth $7,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wagner Wealth Management LLC grew its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Wagner Wealth Management LLC now owns 3,884 shares of the technology company’s stock valued at $429,000 after buying an additional 2,913 shares in the last quarter. Tevis Investment Management lifted its position in shares of Arista Networks by 290.4% in the fourth quarter. Tevis Investment Management now owns 4,380 shares of the technology company’s stock worth $484,000 after buying an additional 3,258 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Arista Networks by 304.3% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 113,995 shares of the technology company’s stock worth $12,600,000 after buying an additional 85,797 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Arista Networks in the fourth quarter worth about $221,000. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Arista Networks by 328.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 96,380 shares of the technology company’s stock worth $10,653,000 after purchasing an additional 73,892 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the 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 transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock worth $37,787,297 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 1.4 %

ANET opened at $120.15 on Tuesday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company has a fifty day simple moving average of $113.21 and a 200 day simple moving average of $100.04. The stock has a market cap of $151.36 billion, a P/E ratio of 57.76, a P/E/G ratio of 3.10 and a beta of 1.09.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Barclays lowered their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group boosted their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

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.