Sapient Capital LLC Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Sapient Capital LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 300.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,900 shares of the technology company’s stock after acquiring an additional 2,926 shares during the quarter. Sapient Capital LLC’s holdings in Arista Networks were worth $431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks in the 4th quarter worth about $242,000. Silver Oak Securities Incorporated increased its stake in Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares during the period. CENTRAL TRUST Co increased its stake in Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock worth $462,000 after buying an additional 3,457 shares during the period. Triasima Portfolio Management inc. increased its stake in Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock worth $8,675,000 after buying an additional 61,833 shares during the period. Finally, GW Henssler & Associates Ltd. increased its stake in Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after buying an additional 2,219 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ANET shares. Morgan Stanley raised their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler reissued a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays cut their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Performance

NYSE:ANET opened at $116.82 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock has a market capitalization of $147.16 billion, a P/E ratio of 56.16, a P/E/G ratio of 3.10 and a beta of 1.09. The company’s 50-day simple moving average is $113.57 and its 200-day simple moving average is $100.33.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were 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 in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,500,155.36. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 in the last three months. Corporate insiders own 3.54% of the company’s stock.

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.