Moloney Securities Asset Management LLC Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Moloney Securities Asset Management LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 846.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,789 shares of the technology company's stock after buying an additional 9,649 shares during the period. Moloney Securities Asset Management LLC's holdings in Arista Networks were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ANET. State Street Corp increased its holdings in Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock worth $4,313,229,000 after purchasing an additional 411,109 shares in the last quarter. Swedbank AB grew its position in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company's stock worth $746,165,000 after buying an additional 5,034,022 shares during the period. Geode Capital Management LLC increased its stake in shares of Arista Networks by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company's stock valued at $2,246,705,000 after acquiring an additional 236,151 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company's stock valued at $512,056,000 after acquiring an additional 3,496,497 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Arista Networks by 22.7% during the third quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company's stock worth $1,021,228,000 after acquiring an additional 492,615 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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. The trade was a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock valued at $37,787,297 over the last 90 days. Company insiders own 3.54% of the company's stock.

Arista Networks Price Performance

ANET stock traded up $0.11 during trading on Thursday, hitting $109.75. 9,603,059 shares of the stock traded hands, compared to its average volume of 8,944,017. The stock has a market cap of $138.26 billion, a price-to-earnings ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm's 50 day moving average is $113.91 and its two-hundred day moving average is $100.65.

Wall Street Analyst Weigh In

A number of brokerages have commented on ANET. The Goldman Sachs Group raised their price objective 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 downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. UBS Group upped 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. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Barclays lowered their target price on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.83.

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.