Arista Networks, Inc. (NYSE:ANET) Shares Bought by Ingalls & Snyder LLC

Ingalls & Snyder LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 301.7% during the fourth quarter, Holdings Channel reports. The fund owned 11,248 shares of the technology company’s stock after purchasing an additional 8,448 shares during the quarter. Ingalls & Snyder LLC’s holdings in Arista Networks were worth $1,243,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ANET. MidAtlantic Capital Management Inc. purchased a new stake in Arista Networks during the 3rd quarter worth approximately $44,000. HM Payson & Co. increased its stake in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC raised its holdings in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in Arista Networks by 186.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value 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 trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock valued at $37,787,297 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of ANET stock opened at $109.75 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market capitalization of $138.26 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock has a fifty day moving average of $113.91 and a two-hundred day moving average of $100.65.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group increased their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.