Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Center for Financial Planning Inc.

Center for Financial Planning Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, HoldingsChannel reports. The firm owned 3,200 shares of the technology company’s stock after purchasing an additional 2,400 shares during the quarter. Center for Financial Planning Inc.’s holdings in Arista Networks were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ANET. Swedbank AB lifted its position 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 worth $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC lifted 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 purchasing an additional 4,512,166 shares in the last quarter. Jennison Associates LLC lifted 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 purchasing an additional 3,496,497 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Arista Networks by 306.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after purchasing an additional 1,835,421 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Arista Networks by 322.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock worth $259,557,000 after purchasing an additional 1,773,777 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 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 report on Wednesday, October 30th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, UBS Group boosted their target price on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given 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 $107.59.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the company’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 sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. The trade was a 86.04 % 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 worth $37,787,297. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $106.64 on Friday. The company has a 50-day simple moving average of $113.97 and a 200-day simple moving average of $100.72. The firm has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Arista Networks 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.