DeDora Capital Inc. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

DeDora Capital Inc. raised its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,528 shares of the technology company’s stock after acquiring an additional 1,896 shares during the quarter. DeDora Capital Inc.’s holdings in Arista Networks were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Arista Networks by 13.3% in the fourth quarter. Blue Trust Inc. now owns 2,990 shares of the technology company’s stock valued at $330,000 after acquiring an additional 352 shares during the period. AustralianSuper Pty Ltd increased its position in shares of Arista Networks by 3,644.3% in the fourth quarter. AustralianSuper Pty Ltd now owns 424,524 shares of the technology company’s stock valued at $46,923,000 after acquiring an additional 413,186 shares during the period. New York State Teachers Retirement System increased its position in shares of Arista Networks by 288.5% in the fourth quarter. New York State Teachers Retirement System now owns 887,449 shares of the technology company’s stock valued at $98,090,000 after acquiring an additional 659,042 shares during the period. Chevy Chase Trust Holdings LLC increased its position in shares of Arista Networks by 292.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock valued at $66,599,000 after acquiring an additional 449,088 shares during the period. Finally, Banque Pictet & Cie SA increased its position in shares of Arista Networks by 405.9% in the fourth quarter. Banque Pictet & Cie SA now owns 4,300 shares of the technology company’s stock valued at $475,000 after acquiring an additional 3,450 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $106.64 on Friday. The firm’s 50 day moving average price is $113.97 and its 200-day moving average price is $100.72. The company has a market cap of $134.35 billion, a PE ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction that occurred on 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. Over the last 90 days, insiders have sold 335,832 shares of company stock worth $37,787,297. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities lifted 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 reaffirmed a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted 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 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 stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $107.59.

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.