Arista Wealth Management LLC Lowers Stock Position in Arista Networks, Inc. $ANET

Arista Wealth Management LLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 62.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,387 shares of the technology company’s stock after selling 3,969 shares during the period. Arista Wealth Management LLC’s holdings in Arista Networks were worth $348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC increased its holdings in shares of Arista Networks by 0.4% during the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after acquiring an additional 70 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. Crown Wealth Group LLC boosted its holdings in Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after purchasing an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc boosted its stake in shares of Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares during the last quarter. Finally, Stablepoint Partners LLC boosted its position in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the transaction, the insider directly owned 12,976 shares in the company, valued at $1,598,124.16. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,464 shares of company stock valued at $27,553,548 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Morgan Stanley decreased their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Barclays reaffirmed an “overweight” rating and issued a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks Trading Up 3.1%

NYSE ANET opened at $141.79 on Tuesday. The stock has a market cap of $178.55 billion, a PE ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42. The company’s 50-day moving average price is $132.06 and its 200-day moving average price is $136.47. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.