Wealthfront Advisers LLC Has $20.56 Million Stock Holdings in Arista Networks, Inc. $ANET

Wealthfront Advisers LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,131 shares of the technology company’s stock after acquiring an additional 5,225 shares during the period. Wealthfront Advisers LLC’s holdings in Arista Networks were worth $20,564,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Bryce Point Capital LLC acquired a new stake in shares of Arista Networks during the 3rd quarter worth $597,000. Proactive Wealth Strategies LLC lifted its holdings in shares of Arista Networks by 1.2% in the third quarter. Proactive Wealth Strategies LLC now owns 10,880 shares of the technology company’s stock worth $1,585,000 after acquiring an additional 130 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Arista Networks by 3.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 84,316 shares of the technology company’s stock valued at $12,286,000 after purchasing an additional 2,996 shares during the last quarter. Western Wealth Management LLC boosted its holdings in shares of Arista Networks by 5.9% during the 3rd quarter. Western Wealth Management LLC now owns 15,593 shares of the technology company’s stock valued at $2,272,000 after acquiring an additional 869 shares in the last quarter. Finally, Legacy Financial Strategies LLC acquired a new stake in shares of Arista Networks during the third quarter valued at about $272,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Morgan Stanley lowered their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Finally, Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 216,464 shares of company stock valued at $27,553,548. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $141.79 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The firm has a 50-day moving average of $132.06 and a 200 day moving average of $136.47. The firm has a market cap of $178.55 billion, a P/E ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.