Stonebridge Financial Group LLC Takes $63,000 Position in Arista Networks, Inc. (NYSE:ANET)

Stonebridge Financial Group LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 568 shares of the technology company’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after purchasing an additional 411,109 shares during the last quarter. Swedbank AB boosted its position in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC grew its stake in Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after acquiring an additional 4,512,166 shares during the last quarter. Geode Capital Management LLC increased its holdings in Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after acquiring an additional 236,151 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after acquiring an additional 3,496,497 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $109.75 on Friday. The firm’s 50-day simple moving average is $113.91 and its 200-day simple moving average is $100.65. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The firm has a market cap of $138.26 billion, a P/E ratio of 52.77, a PEG ratio of 3.10 and a beta of 1.09.

Insider Buying and Selling

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the business’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 sale, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 335,832 shares of company stock valued at $37,787,297. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANET. Barclays lowered their price target on shares of 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 target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.59.

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.