WD Rutherford LLC Acquires 42,956 Shares of Arista Networks, Inc. (NYSE:ANET)

WD Rutherford LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 299.1% in the 4th quarter, Holdings Channel reports. The firm owned 57,320 shares of the technology company’s stock after buying an additional 42,956 shares during the period. Arista Networks makes up approximately 3.0% of WD Rutherford LLC’s portfolio, making the stock its 5th largest holding. WD Rutherford LLC’s holdings in Arista Networks were worth $6,336,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks in the 4th quarter worth about $242,000. Silver Oak Securities Incorporated increased its position in shares of Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its holdings in shares of Arista Networks by 292.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock valued at $66,599,000 after acquiring an additional 449,088 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Arista Networks by 475.5% during the fourth quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after acquiring an additional 3,457 shares during the period. Finally, Triasima Portfolio Management inc. lifted its position in shares of Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after acquiring an additional 61,833 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 2.8 %

ANET stock opened at $106.64 on Friday. 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. The firm has a 50 day moving average of $113.94 and a two-hundred day moving average of $100.90. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’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 transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,832 shares of company stock valued at $37,787,297. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays dropped their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, Rosenblatt Securities increased their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

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.