Focus Financial Network Inc. Acquires 1,067 Shares of Arista Networks, Inc. (NYSE:ANET)

Focus Financial Network Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 87.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,284 shares of the technology company’s stock after purchasing an additional 1,067 shares during the quarter. Focus Financial Network Inc.’s holdings in Arista Networks were worth $252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning grew its holdings in shares of Arista Networks by 13.1% during the 3rd quarter. Creative Planning now owns 109,174 shares of the technology company’s stock worth $41,903,000 after purchasing an additional 12,612 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Arista Networks during the third quarter worth about $207,000. Bleakley Financial Group LLC increased its holdings in Arista Networks by 26.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,426 shares of the technology company’s stock valued at $2,466,000 after buying an additional 1,337 shares during the period. Teamwork Financial Advisors LLC raised its position in shares of Arista Networks by 9.6% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 55,267 shares of the technology company’s stock valued at $21,213,000 after buying an additional 4,847 shares in the last quarter. Finally, Secure Asset Management LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth approximately $284,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

Arista Networks stock opened at $106.64 on Friday. The firm has a market cap of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. The stock’s 50 day moving average is $113.97 and its 200 day moving average is $100.72. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays lowered their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 6,340 shares of Arista Networks 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 completion of the sale, the insider now owns 288 shares of the company’s stock, valued at $28,391.76. This represents a 95.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,832 shares of company stock worth $37,787,297. Company insiders own 3.54% of the company’s stock.

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.