Beacon Financial Group Has $1.49 Million Position in Arista Networks, Inc. (NYSE:ANET)

Beacon Financial Group increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 254.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,461 shares of the technology company’s stock after buying an additional 9,660 shares during the period. Beacon Financial Group’s holdings in Arista Networks were worth $1,488,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after purchasing an additional 411,109 shares during the last quarter. Swedbank AB lifted its holdings in Arista Networks by 293.2% during 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 during the period. WCM Investment Management LLC grew its position in shares of 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 buying an additional 4,512,166 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arista Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after buying an additional 236,151 shares during the period. Finally, Jennison Associates LLC raised its position in shares of 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. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, 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 335,832 shares of company stock worth $37,787,297 in the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 2.8 %

ANET opened at $116.82 on Wednesday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company has a market cap of $147.16 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.10 and a beta of 1.09. The company’s fifty day moving average price is $113.57 and its two-hundred day moving average price is $100.33.

Analysts Set New Price Targets

Several analysts recently commented on ANET shares. Rosenblatt Securities upped their target price on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Morgan Stanley increased their price objective 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. 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 note on Friday, January 17th. Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays dropped their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.