Braun Stacey Associates Inc. Has $36.83 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Braun Stacey Associates Inc. boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 283.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,229 shares of the technology company’s stock after purchasing an additional 246,328 shares during the period. Arista Networks comprises approximately 1.4% of Braun Stacey Associates Inc.’s investment portfolio, making the stock its 15th biggest position. Braun Stacey Associates Inc.’s holdings in Arista Networks were worth $36,832,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks in the 3rd quarter valued at $44,000. HM Payson & Co. grew its holdings in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC boosted its position in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC grew its position in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the last quarter. Finally, Transcendent Capital Group LLC lifted its holdings in Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after acquiring an additional 75 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Evercore ISI raised their price target 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. Morgan Stanley raised 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. The Goldman Sachs Group increased their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Barclays lowered their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock worth $37,787,297 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $106.64 on Tuesday. The stock has a market cap of $134.35 billion, a PE ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. The firm has a 50-day simple moving average of $113.94 and a two-hundred day simple moving average of $101.16. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57.

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.