CAP Partners LLC Buys 5,744 Shares of Arista Networks, Inc. (NYSE:ANET)

CAP Partners LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 296.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,680 shares of the technology company’s stock after acquiring an additional 5,744 shares during the period. CAP Partners LLC’s holdings in Arista Networks were worth $849,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Swedbank AB raised its position in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after buying an additional 4,512,166 shares during the period. Jennison Associates LLC raised its holdings in Arista Networks by 307.7% in the 4th 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. Sumitomo Mitsui Trust Group Inc. boosted its position in Arista Networks by 306.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after buying an additional 1,835,421 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Arista Networks by 473.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock worth $146,593,000 after acquiring an additional 1,094,910 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. 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 report on Friday, November 8th. The Goldman Sachs Group upped their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Morgan Stanley raised their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Price Performance

Shares of ANET opened at $120.15 on Tuesday. The stock has a 50-day moving average of $113.21 and a 200-day moving average of $100.04. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company has a market cap of $151.36 billion, a PE ratio of 57.76, a P/E/G ratio of 3.10 and a beta of 1.09.

Insider Buying and Selling at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 335,832 shares of company stock valued at $37,787,297. Company insiders own 3.54% of the company’s stock.

About Arista Networks

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.