Legacy Capital Wealth Partners LLC Has $703,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Legacy Capital Wealth Partners LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 301.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,357 shares of the technology company’s stock after purchasing an additional 4,774 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Arista Networks were worth $703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Everhart Financial Group Inc. raised its holdings in shares of Arista Networks by 76.6% in the fourth quarter. Everhart Financial Group Inc. now owns 2,259 shares of the technology company’s stock valued at $250,000 after purchasing an additional 980 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of Arista Networks by 266.3% in the fourth quarter. Beacon Capital Management LLC now owns 348 shares of the technology company’s stock valued at $38,000 after purchasing an additional 253 shares during the last quarter. Seascape Capital Management acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $2,768,000. Montag A & Associates Inc. raised its holdings in shares of Arista Networks by 300.1% in the fourth quarter. Montag A & Associates Inc. now owns 3,301 shares of the technology company’s stock valued at $365,000 after purchasing an additional 2,476 shares during the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Congress Asset Management Co. now owns 1,838,991 shares of the technology company’s stock valued at $203,264,000 after purchasing an additional 1,379,287 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group boosted their target price 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. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler restated a “neutral” rating and set a $105.25 target price (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. 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 stock. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

Insider Activity

In other news, CEO Jayshree Ullal sold 71,036 shares of the business’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 approximately $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is owned by company insiders.

Arista Networks Price 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 market cap 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. The firm’s fifty day moving average price is $113.94 and its two-hundred day moving average price is $100.90.

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.