Myriad Asset Management US LP Takes $1.25 Million Position in Arista Networks, Inc. (NYSE:ANET)

Myriad Asset Management US LP acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,308 shares of the technology company’s stock, valued at approximately $1,250,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Zions Bancorporation N.A. raised its stake in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC raised its stake in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares in the last quarter. Altman Advisors Inc. raised its stake in Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after acquiring an additional 28 shares in the last quarter. HM Payson & Co. raised its stake in Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its position in Arista Networks by 4.9% during the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Down 2.8 %

ANET stock opened at $106.64 on Friday. The company 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. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company’s 50-day moving average price is $113.97 and its 200 day moving average price is $100.72.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ANET shares. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Rosenblatt Securities raised their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Evercore ISI raised their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.59.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 335,832 shares of company stock valued at $37,787,297. Corporate 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.