Values First Advisors Inc. Buys Shares of 1,825 Arista Networks, Inc. (NYSE:ANET)

Values First Advisors Inc. purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,825 shares of the technology company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently modified their holdings of the stock. Retirement Guys Formula LLC increased its stake 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 period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arista Networks by 322.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock valued at $259,557,000 after acquiring an additional 1,773,777 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new position in shares of Arista Networks during the fourth quarter worth about $226,000. Great Lakes Retirement Inc. raised its holdings in Arista Networks by 302.0% during the fourth quarter. Great Lakes Retirement Inc. now owns 45,270 shares of the technology company’s stock worth $5,004,000 after purchasing an additional 34,008 shares in the last quarter. Finally, Hartford Investment Management Co. lifted its position in Arista Networks by 293.7% in the fourth quarter. Hartford Investment Management Co. now owns 63,887 shares of the technology company’s stock valued at $7,061,000 after purchasing an additional 47,659 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s 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 transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks 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 sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock valued at $37,787,297 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ANET. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler reaffirmed 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. UBS Group raised their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays lowered their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Rosenblatt Securities boosted their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Trading Down 6.2 %

Shares of ANET opened at $109.61 on Thursday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a market cap of $138.08 billion, a P/E ratio of 52.70, a PEG ratio of 3.10 and a beta of 1.09. The company has a 50-day moving average of $113.83 and a two-hundred day moving average of $100.59.

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.