Hemington Wealth Management Buys 254 Shares of Arista Networks, Inc. (NYSE:ANET)

Hemington Wealth Management grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 409.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 316 shares of the technology company’s stock after purchasing an additional 254 shares during the period. Hemington Wealth Management’s holdings in Arista Networks were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. State Street Corp grew its position in Arista Networks by 3.8% in the 3rd 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 period. Swedbank AB grew its holdings in shares of Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after buying an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Arista Networks by 292.8% during the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Arista Networks by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after acquiring an additional 236,151 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Arista Networks by 307.7% in the 4th 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 own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Mccool sold 6,340 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 288 shares in the company, valued at approximately $28,391.76. This trade represents a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock worth $37,787,297 in the last quarter. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

NYSE:ANET opened at $109.75 on Friday. The company has a market cap of $138.26 billion, a P/E ratio of 52.77, a P/E/G 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 stock’s fifty day moving average price is $113.91 and its two-hundred day moving average price is $100.65.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI lifted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One equities research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.