Secured Retirement Advisors LLC Buys New Position in Arista Networks, Inc. (NYSE:ANET)

Secured Retirement Advisors LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,264 shares of the technology company’s stock, valued at approximately $913,000.

Several other institutional investors have also recently added to or reduced their stakes in ANET. MidAtlantic Capital Management Inc. acquired a new position in shares of Arista Networks during the 3rd quarter valued at $44,000. HM Payson & Co. boosted its position in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after buying an additional 128 shares during the period. Anchor Investment Management LLC increased its position in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC raised its stake in Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock worth $67,000 after buying an additional 75 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at $7,076,289.82. This represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 335,832 shares of company stock valued at $37,787,297. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $106.64 on Friday. The business’s fifty day moving average is $113.94 and its 200-day moving average is $100.90. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANET. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Morgan Stanley lifted their price objective 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. Barclays lowered their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Company 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.