Walkner Condon Financial Advisors LLC Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Walkner Condon Financial Advisors LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,196 shares of the technology company’s stock after purchasing an additional 18,156 shares during the quarter. Walkner Condon Financial Advisors LLC’s holdings in Arista Networks were worth $2,674,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont raised its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. New Millennium Group LLC lifted its holdings in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in shares of Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after purchasing an additional 253 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ANET. Rosenblatt Securities raised their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, UBS Group lifted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock worth $37,787,297 in the last ninety days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Shares of ANET opened at $109.75 on Friday. The stock has a market capitalization of $138.26 billion, a PE ratio of 52.77, a P/E/G ratio of 3.10 and a beta of 1.09. The company’s 50-day simple moving average is $113.91 and its 200-day simple moving average is $100.65. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

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.