Davidson Investment Advisors Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

Davidson Investment Advisors grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 305.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,665 shares of the technology company’s stock after purchasing an additional 226,437 shares during the period. Arista Networks comprises approximately 1.6% of Davidson Investment Advisors’ holdings, making the stock its 13th largest holding. Davidson Investment Advisors’ holdings in Arista Networks were worth $33,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANET. Blue Trust Inc. increased its stake in Arista Networks by 89.2% in the third quarter. Blue Trust Inc. now owns 2,638 shares of the technology company’s stock worth $925,000 after purchasing an additional 1,244 shares during the period. Capital Investment Advisors LLC grew its position in shares of Arista Networks by 25.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 795 shares of the technology company’s stock worth $305,000 after buying an additional 159 shares in the last quarter. Raymond James & Associates grew its position in shares of Arista Networks by 1.2% during the 3rd quarter. Raymond James & Associates now owns 214,204 shares of the technology company’s stock worth $82,216,000 after buying an additional 2,566 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Arista Networks by 8.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 130,138 shares of the technology company’s stock worth $49,949,000 after buying an additional 9,751 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Arista Networks by 9.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 956 shares of the technology company’s stock worth $367,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. 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. Wells Fargo & Company raised their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays reduced their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were 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 of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock worth $37,787,297 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 2.8 %

ANET opened at $106.64 on Tuesday. The business’s 50 day moving average is $113.94 and its two-hundred day moving average is $101.16. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The firm has a market cap of $134.35 billion, a price-to-earnings ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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.