Avidian Wealth Enterprises LLC Makes New $226,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Avidian Wealth Enterprises LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,044 shares of the technology company’s stock, valued at approximately $226,000.

Other institutional investors have also modified their holdings of the company. Great Lakes Retirement Inc. lifted its position in Arista Networks by 302.0% during the fourth quarter. Great Lakes Retirement Inc. now owns 45,270 shares of the technology company’s stock valued at $5,004,000 after buying an additional 34,008 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in shares of Arista Networks by 293.7% during the 4th quarter. Hartford Investment Management Co. now owns 63,887 shares of the technology company’s stock valued at $7,061,000 after acquiring an additional 47,659 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its holdings in shares of Arista Networks by 400.1% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 42,666 shares of the technology company’s stock valued at $4,716,000 after acquiring an additional 34,134 shares in the last quarter. Capital Advisors Inc. OK boosted its position in Arista Networks by 300.0% during the 4th quarter. Capital Advisors Inc. OK now owns 2,560 shares of the technology company’s stock worth $283,000 after purchasing an additional 1,920 shares during the period. Finally, Certuity LLC raised its position in Arista Networks by 273.4% in the fourth quarter. Certuity LLC now owns 32,339 shares of the technology company’s stock valued at $3,577,000 after purchasing an additional 23,678 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays decreased their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, UBS Group boosted their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks Stock Performance

NYSE ANET opened at $106.64 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. 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 PE ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now directly owns 288 shares of the company’s stock, valued at $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock valued at $37,787,297 over the last quarter. Insiders own 3.54% of the company’s stock.

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.