Caprock Group LLC Buys Shares of 68,065 Arista Networks, Inc. $ANET

Caprock Group LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 68,065 shares of the technology company’s stock, valued at approximately $9,294,000.

Other large investors have also recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC lifted its holdings in Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Crown Wealth Group LLC raised its position in shares of Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after buying an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc lifted its stake in shares of Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares in the last quarter. Finally, Stablepoint Partners LLC lifted its stake in shares of Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after buying an additional 77 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

ANET opened at $143.71 on Wednesday. The stock has a market capitalization of $180.97 billion, a PE ratio of 54.64, a P/E/G ratio of 2.39 and a beta of 1.42. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The business’s 50 day moving average price is $132.39 and its 200 day moving average price is $136.68.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director directly owned 9,784 shares in the company, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the completion of the transaction, the insider directly owned 12,976 shares in the company, valued at $1,598,124.16. The trade was a 69.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,464 shares of company stock valued at $27,553,548 in the last quarter. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ANET. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Rosenblatt Securities upped their price target on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. UBS Group reissued a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. Finally, Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.00.

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.