Balentine LLC Buys 2,886 Shares of Arista Networks, Inc. (NYSE:ANET)

Balentine LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,848 shares of the technology company’s stock after acquiring an additional 2,886 shares during the quarter. Balentine LLC’s holdings in Arista Networks were worth $425,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ANET. JSF Financial LLC increased its holdings in Arista Networks by 311.4% in the fourth quarter. JSF Financial LLC now owns 11,848 shares of the technology company’s stock worth $1,310,000 after purchasing an additional 8,968 shares in the last quarter. Weatherly Asset Management L. P. increased its stake in shares of Arista Networks by 312.1% in the 4th quarter. Weatherly Asset Management L. P. now owns 82,299 shares of the technology company’s stock valued at $9,097,000 after acquiring an additional 62,328 shares in the last quarter. Cigna Investments Inc. New lifted its position in shares of Arista Networks by 297.6% during the 4th 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 stake in 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 acquiring an additional 2,848 shares in the last quarter. Finally, Sovran Advisors LLC acquired a new stake in Arista Networks in the fourth quarter worth $3,888,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

NYSE:ANET opened at $120.15 on Tuesday. The firm has a market capitalization of $151.36 billion, a price-to-earnings ratio of 57.76, a P/E/G ratio of 3.10 and a beta of 1.09. The stock has a fifty day moving average of $113.21 and a 200 day moving average of $100.04. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % 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. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their price objective on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Company 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.