Childress Capital Advisors LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 291.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,849 shares of the technology company’s stock after acquiring an additional 2,866 shares during the period. Childress Capital Advisors LLC’s holdings in Arista Networks were worth $425,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cranbrook Wealth Management LLC increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont increased its stake in shares of 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 purchasing an additional 198 shares during the period. New Millennium Group LLC increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Westside Investment Management Inc. increased its stake in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the period. Finally, Costello Asset Management INC increased its stake in shares of Arista Networks by 300.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $33,000 after purchasing an additional 225 shares during the period. Institutional investors own 82.47% of the company’s stock.
Arista Networks Price Performance
Shares of NYSE:ANET opened at $115.43 on Thursday. The company has a market capitalization of $145.41 billion, a price-to-earnings ratio of 55.49, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50-day moving average is $112.28 and its 200-day moving average is $99.36. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Rosenblatt Securities increased their target price on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Barclays reduced their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.83.
Get Our Latest Research Report on ANET
Insider Activity
In related news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. 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 255,832 shares of company stock valued at $28,538,497 in the last ninety days. 3.54% of the stock is owned by company insiders.
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.
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