3,024 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,024 shares of the technology company’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. ORG Partners LLC increased its stake in Arista Networks by 186.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after buying an additional 93 shares during the period. Wesbanco Bank Inc. increased its stake in Arista Networks by 10.0% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,102 shares of the technology company’s stock worth $423,000 after buying an additional 100 shares during the period. Creative Planning increased its stake in Arista Networks by 13.1% during the 3rd quarter. Creative Planning now owns 109,174 shares of the technology company’s stock worth $41,903,000 after buying an additional 12,612 shares during the period. Hutchens & Kramer Investment Management Group LLC purchased a new stake in Arista Networks during the 3rd quarter worth $208,000. Finally, Sumitomo Life Insurance Co. increased its stake in Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after buying an additional 3,711 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were 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 directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Mccool sold 288 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 335,832 shares of company stock worth $37,787,297 in the last ninety days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ANET. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Rosenblatt Securities raised 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. Barclays decreased their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. UBS Group raised their price objective on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Evercore ISI raised 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Down 6.2 %

Shares of NYSE:ANET opened at $109.61 on Thursday. The company has a market cap of $138.08 billion, a PE ratio of 52.70, a P/E/G ratio of 3.10 and a beta of 1.09. The company’s 50-day moving average price is $113.83 and its 200 day moving average price is $100.59. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

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.