Secured Retirement Advisors LLC Makes New $913,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Secured Retirement Advisors LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,264 shares of the technology company’s stock, valued at approximately $913,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. Strategic Financial Concepts LLC purchased a new position in Arista Networks during the fourth quarter worth about $3,528,000. Allworth Financial LP grew its holdings in shares of Arista Networks by 338.4% during the fourth quarter. Allworth Financial LP now owns 10,281 shares of the technology company’s stock worth $1,136,000 after purchasing an additional 7,936 shares in the last quarter. Principal Securities Inc. increased its position in shares of Arista Networks by 335.0% in the fourth quarter. Principal Securities Inc. now owns 36,790 shares of the technology company’s stock worth $4,066,000 after purchasing an additional 28,333 shares during the last quarter. Legacy Capital Wealth Partners LLC raised its stake in Arista Networks by 301.6% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,357 shares of the technology company’s stock valued at $703,000 after purchasing an additional 4,774 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its position in Arista Networks by 76.6% during 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. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock valued at $37,787,297 in the last quarter. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $106.64 on Friday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The company’s 50 day moving average price is $113.94 and its 200-day moving average price is $100.90. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target 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. The Goldman Sachs Group increased their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities increased their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company boosted their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.