Arista Networks, Inc. (NYSE:ANET) Shares Acquired by AFT Forsyth & Company Inc.

AFT Forsyth & Company Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 301.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,736 shares of the technology company’s stock after acquiring an additional 8,064 shares during the quarter. AFT Forsyth & Company Inc.’s holdings in Arista Networks were worth $1,187,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now directly owns 288 shares in the company, valued at approximately $28,391.76. This represents a 95.65 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction that occurred on Monday, December 2nd. The stock was 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 $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ANET shares. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler restated 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. Finally, StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Down 6.2 %

Shares of NYSE:ANET opened at $109.61 on Thursday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The stock has a market cap of $138.08 billion, a P/E ratio of 52.70, a PEG ratio of 3.10 and a beta of 1.09. The business has a fifty day moving average of $113.83 and a two-hundred day moving average of $100.59.

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.