Americana Partners LLC Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Americana Partners LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 300.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,904 shares of the technology company’s stock after purchasing an additional 5,928 shares during the period. Americana Partners LLC’s holdings in Arista Networks were worth $874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of Arista Networks by 89.2% during the third quarter. Blue Trust Inc. now owns 2,638 shares of the technology company’s stock valued at $925,000 after buying an additional 1,244 shares during the period. Capital Investment Advisors LLC lifted its stake in shares of Arista Networks by 25.0% during the third quarter. Capital Investment Advisors LLC now owns 795 shares of the technology company’s stock valued at $305,000 after buying an additional 159 shares during the period. Raymond James & Associates lifted its stake in shares of Arista Networks by 1.2% during the third quarter. Raymond James & Associates now owns 214,204 shares of the technology company’s stock valued at $82,216,000 after buying an additional 2,566 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Arista Networks by 8.1% during the third quarter. Commonwealth Equity Services LLC now owns 130,138 shares of the technology company’s stock valued at $49,949,000 after buying an additional 9,751 shares during the period. Finally, Resonant Capital Advisors LLC lifted its stake in shares of Arista Networks by 9.9% during the third quarter. Resonant Capital Advisors LLC now owns 956 shares of the technology company’s stock valued at $367,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock valued at $37,787,297 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Down 2.8 %

NYSE ANET opened at $106.64 on Tuesday. The stock has a market capitalization of $134.35 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The company has a 50 day moving average price of $113.94 and a two-hundred day moving average price of $101.16. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Wall Street Analyst Weigh In

ANET has been the subject of several research analyst reports. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group upped their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays dropped their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $107.59.

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.