Retirement Guys Formula LLC Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Retirement Guys Formula LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 299.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,312 shares of the technology company’s stock after acquiring an additional 12,224 shares during the period. Retirement Guys Formula LLC’s holdings in Arista Networks were worth $1,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks during the 4th quarter worth approximately $242,000. Silver Oak Securities Incorporated raised its position in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after purchasing an additional 3,457 shares in the last quarter. Triasima Portfolio Management inc. raised its position in shares of Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after purchasing an additional 61,833 shares in the last quarter. Finally, GW Henssler & Associates Ltd. raised its position in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. 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. 3.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ANET. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Rosenblatt Securities upped their target price on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Stock Performance

NYSE: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 stock 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 business has a fifty day moving average of $113.57 and a 200-day moving average of $100.33.

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.