J.W. Cole Advisors Inc. Has $2.39 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

J.W. Cole Advisors Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 327.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,603 shares of the technology company’s stock after buying an additional 16,546 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Arista Networks were worth $2,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. State Street Corp grew its stake in Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB lifted its holdings in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC grew its position in Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the period. Geode Capital Management LLC raised its holdings in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after buying an additional 236,151 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after buying an additional 3,496,497 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ANET. UBS Group upped their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities raised their target price on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value 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 $1,500,155.36. This represents a 86.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock valued at $37,787,297 over the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 2.8 %

Shares of NYSE ANET opened at $106.64 on Monday. The firm has a fifty day simple moving average of $113.94 and a two-hundred day simple moving average of $101.06. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The firm has a market capitalization of $134.35 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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.