Banque Pictet & Cie SA Has $475,000 Position in Arista Networks, Inc. (NYSE:ANET)

Banque Pictet & Cie SA lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 405.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the technology company’s stock after purchasing an additional 3,450 shares during the quarter. Banque Pictet & Cie SA’s holdings in Arista Networks were worth $475,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ANET. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the 4th quarter valued at approximately $242,000. Silver Oak Securities Incorporated raised its position in 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 buying an additional 14,843 shares during the last quarter. CENTRAL TRUST Co raised its position in 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 buying an additional 3,457 shares during the last quarter. Triasima Portfolio Management inc. raised its position in 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 buying an additional 61,833 shares during the last quarter. Finally, Retirement Guys Formula LLC raised its position in Arista Networks by 299.0% in the 4th quarter. Retirement Guys Formula LLC now owns 16,312 shares of the technology company’s stock valued at $1,803,000 after buying an additional 12,224 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ANET shares. Rosenblatt Securities lifted 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 boosted their price target on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Barclays lowered their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks Trading Down 2.8 %

Shares of NYSE ANET opened at $106.64 on Friday. The stock has a 50 day moving average of $113.94 and a 200-day moving average of $100.90. The company 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 12 month low of $60.08 and a 12 month high of $133.57.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was 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 directly owns 70,724 shares in the company, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. 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 business’s stock in a transaction on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 in the last ninety days. 3.54% of the stock is owned by company insiders.

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.