Core Alternative Capital Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Core Alternative Capital increased its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,264 shares of the technology company’s stock after buying an additional 948 shares during the period. Core Alternative Capital’s holdings in Arista Networks were worth $140,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Caitlin John LLC raised its position in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the period. Cranbrook Wealth Management LLC grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. New Millennium Group LLC grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after acquiring an additional 253 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Arista Networks stock opened at $120.15 on Tuesday. The firm has a market cap of $151.36 billion, a price-to-earnings ratio of 57.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm’s 50 day moving average price is $113.21 and its two-hundred day moving average price is $100.04.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 335,832 shares of company stock worth $37,787,297. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ANET shares. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Piper Sandler restated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.