Beta Wealth Group Inc. Buys Shares of 5,200 Arista Networks, Inc. (NYSE:ANET)

Beta Wealth Group Inc. purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,200 shares of the technology company’s stock, valued at approximately $575,000.

Several other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted 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 valued at $925,000 after buying an additional 1,244 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Arista Networks by 25.0% in the 3rd quarter. Capital Investment Advisors LLC now owns 795 shares of the technology company’s stock valued at $305,000 after purchasing an additional 159 shares in the last quarter. Raymond James & Associates grew its holdings 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 valued at $82,216,000 after purchasing an additional 2,566 shares during the last quarter. Commonwealth Equity Services LLC increased its position in 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 purchasing an additional 9,751 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in Arista Networks by 9.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 956 shares of the technology company’s stock valued at $367,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, UBS Group lifted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Stock Down 2.8 %

ANET stock opened at $106.64 on Tuesday. The firm has a market cap of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. The company’s fifty day simple moving average is $113.94 and its 200 day simple moving average is $101.16. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was 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 owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock valued at $37,787,297 in the last ninety days. 3.54% of the stock is owned by company insiders.

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.