Balentine LLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Balentine LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,848 shares of the technology company’s stock after buying an additional 2,886 shares during the quarter. Balentine LLC’s holdings in Arista Networks were worth $425,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ANET. JSF Financial LLC boosted its holdings in Arista Networks by 311.4% in the fourth quarter. JSF Financial LLC now owns 11,848 shares of the technology company’s stock valued at $1,310,000 after acquiring an additional 8,968 shares in the last quarter. Weatherly Asset Management L. P. lifted its position in shares of Arista Networks by 312.1% in the 4th quarter. Weatherly Asset Management L. P. now owns 82,299 shares of the technology company’s stock worth $9,097,000 after purchasing an additional 62,328 shares during the period. Cigna Investments Inc. New boosted its stake in shares of Arista Networks by 297.6% during the 4th quarter. Cigna Investments Inc. New now owns 10,660 shares of the technology company’s stock valued at $1,179,000 after purchasing an additional 7,979 shares in the last quarter. Latitude Advisors LLC raised its stake in Arista Networks by 299.8% in the fourth quarter. Latitude Advisors LLC now owns 3,798 shares of the technology company’s stock worth $420,000 after buying an additional 2,848 shares in the last quarter. Finally, Sovran Advisors LLC purchased a new stake in Arista Networks in the fourth quarter worth about $3,888,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Up 1.4 %

Shares of ANET stock opened at $120.15 on Tuesday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a market capitalization of $151.36 billion, a P/E ratio of 57.76, a P/E/G ratio of 3.10 and a beta of 1.09. The firm’s 50 day moving average is $113.21 and its 200 day moving average is $100.04.

Insider Transactions at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 owns 288 shares of the company’s stock, valued at $28,391.76. This represents a 95.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock worth $37,787,297 in the last ninety days. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ANET. Wells Fargo & Company increased their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upped their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays lowered their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

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.