Nations Financial Group Inc. IA ADV Acquires 14,971 Shares of Arista Networks, Inc. (NYSE:ANET)

Nations Financial Group Inc. IA ADV increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 304.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,888 shares of the technology company’s stock after purchasing an additional 14,971 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Arista Networks were worth $2,198,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Rhumbline Advisers increased its stake in Arista Networks by 295.3% during the 4th quarter. Rhumbline Advisers now owns 1,870,188 shares of the technology company’s stock worth $206,712,000 after purchasing an additional 1,397,122 shares in the last quarter. Center for Financial Planning Inc. increased its stake in Arista Networks by 300.0% during the 4th quarter. Center for Financial Planning Inc. now owns 3,200 shares of the technology company’s stock worth $354,000 after purchasing an additional 2,400 shares in the last quarter. New Mexico Educational Retirement Board increased its stake in Arista Networks by 296.8% during the 4th quarter. New Mexico Educational Retirement Board now owns 49,200 shares of the technology company’s stock worth $5,438,000 after purchasing an additional 36,800 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Arista Networks by 433.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company’s stock worth $1,200,000 after acquiring an additional 8,822 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in shares of Arista Networks by 299.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,150 shares of the technology company’s stock worth $901,000 after acquiring an additional 6,109 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % 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 quarter. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $106.64 on Friday. The business has a fifty day simple moving average of $113.94 and a two-hundred day simple moving average of $100.90. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The company has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Rosenblatt Securities raised their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Morgan Stanley raised their price target 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. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company raised their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks 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.