Myriad Asset Management US LP Takes Position in Arista Networks, Inc. (NYSE:ANET)

Myriad Asset Management US LP purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, Holdings Channel reports. The firm purchased 11,308 shares of the technology company’s stock, valued at approximately $1,250,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Caitlin John LLC grew its stake in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the period. Cranbrook Wealth Management LLC boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. New Millennium Group LLC boosted its stake in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in shares of Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after purchasing an additional 253 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several analyst reports. Rosenblatt Securities upped 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. Piper Sandler restated a “neutral” rating and issued a $105.25 target price (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Barclays decreased their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. 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. Finally, UBS Group upped their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. One research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $106.64 on Friday. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The company’s fifty day moving average is $113.97 and its two-hundred day moving average is $100.72.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. 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, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,832 shares of company stock valued at $37,787,297. Company 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.