Arista Networks, Inc. (NYSE:ANET) Position Boosted by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 312.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,299 shares of the technology company’s stock after purchasing an additional 62,328 shares during the period. Arista Networks makes up 0.8% of Weatherly Asset Management L. P.’s portfolio, making the stock its 26th biggest holding. Weatherly Asset Management L. P.’s holdings in Arista Networks were worth $9,097,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cigna Investments Inc. New raised its holdings in shares of Arista Networks by 297.6% during the fourth quarter. Cigna Investments Inc. New now owns 10,660 shares of the technology company’s stock valued at $1,179,000 after acquiring an additional 7,979 shares during the period. Latitude Advisors LLC boosted its holdings in shares of Arista Networks by 299.8% during the fourth quarter. Latitude Advisors LLC now owns 3,798 shares of the technology company’s stock worth $420,000 after purchasing an additional 2,848 shares during the period. Sovran Advisors LLC purchased a new position in shares of Arista Networks during the 4th quarter valued at $3,888,000. Stonebridge Financial Group LLC acquired a new position in shares of Arista Networks in the fourth quarter worth $63,000. Finally, Core Alternative Capital increased its position in Arista Networks by 300.0% during the fourth quarter. Core Alternative Capital now owns 1,264 shares of the technology company’s stock worth $140,000 after buying an additional 948 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now owns 288 shares of the company’s stock, valued at $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,832 shares of company stock worth $37,787,297. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group increased their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group lifted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Rosenblatt Securities lifted their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Price Performance

ANET stock opened at $120.15 on Tuesday. The company has a 50 day moving average price of $113.21 and a 200 day moving average price of $100.04. The stock has a market capitalization of $151.36 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

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.