TFC Financial Management Inc. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

TFC Financial Management Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 276.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,452 shares of the technology company’s stock after buying an additional 1,066 shares during the quarter. TFC Financial Management Inc.’s holdings in Arista Networks were worth $160,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ANET. HMS Capital Management LLC lifted its stake in Arista Networks by 289.4% in the 4th quarter. HMS Capital Management LLC now owns 4,272 shares of the technology company’s stock worth $472,000 after purchasing an additional 3,175 shares in the last quarter. Ingalls & Snyder LLC lifted its stake in Arista Networks by 301.7% in the 4th quarter. Ingalls & Snyder LLC now owns 11,248 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 8,448 shares in the last quarter. Van ECK Associates Corp lifted its stake in Arista Networks by 303.1% in the 4th quarter. Van ECK Associates Corp now owns 274,088 shares of the technology company’s stock worth $30,295,000 after purchasing an additional 206,093 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Arista Networks in the 4th quarter worth $202,000. Finally, Retirement Guys Formula LLC lifted its stake in Arista Networks by 299.0% in the 4th quarter. Retirement Guys Formula LLC now owns 16,312 shares of the technology company’s stock worth $1,803,000 after purchasing an additional 12,224 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays cut their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Performance

Shares of ANET opened at $109.61 on Thursday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a 50 day moving average price of $113.83 and a 200-day moving average price of $100.59. The stock has a market capitalization of $138.08 billion, a PE ratio of 52.70, a PEG ratio of 3.10 and a beta of 1.09.

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.