Sovran Advisors LLC Acquires New Position in Arista Networks, Inc. (NYSE:ANET)

Sovran Advisors LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,839 shares of the technology company’s stock, valued at approximately $3,888,000.

Other hedge funds also recently bought and sold shares of the company. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks during the fourth quarter worth about $242,000. Silver Oak Securities Incorporated boosted its stake in Arista Networks by 395.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares during the period. CENTRAL TRUST Co boosted its stake in Arista Networks by 475.5% during the fourth quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock worth $462,000 after buying an additional 3,457 shares during the period. Triasima Portfolio Management inc. boosted its stake in Arista Networks by 371.3% during the fourth quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock worth $8,675,000 after buying an additional 61,833 shares during the period. Finally, GW Henssler & Associates Ltd. lifted its position in shares of Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s 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 completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock valued at $37,787,297 in the last 90 days. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ANET. 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. 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 report on Friday, November 8th. Evercore ISI raised their target price 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. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Up 1.4 %

NYSE:ANET opened at $120.15 on Tuesday. The company has a market capitalization of $151.36 billion, a PE ratio of 57.76, a price-to-earnings-growth 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 stock has a fifty day simple moving average of $113.21 and a 200-day simple moving average of $100.04.

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.