Nations Financial Group Inc. IA ADV Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Nations Financial Group Inc. IA ADV raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 304.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,888 shares of the technology company's stock after purchasing an additional 14,971 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Arista Networks were worth $2,198,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Arista Networks in the 3rd quarter worth about $44,000. HM Payson & Co. lifted its holdings in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company's stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC lifted its holdings in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock valued at $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock worth $52,000 after buying an additional 35 shares in the last quarter. Finally, Transcendent Capital Group LLC lifted its holdings in shares of Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company's stock worth $67,000 after buying an additional 75 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 288 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Insiders have sold a total of 337,320 shares of company stock valued at $37,946,706 over the last quarter. 3.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. StockNews.com cut shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. 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 report on Wednesday, December 4th. Piper Sandler restated a "neutral" rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Finally, Morgan Stanley raised their price target on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.59.

Arista Networks Price Performance

Shares of NYSE ANET traded up $4.18 during midday trading on Tuesday, reaching $111.05. 20,565,694 shares of the stock traded hands, compared to its average volume of 9,419,350. The stock has a market capitalization of $139.89 billion, a PE ratio of 53.39, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company's 50 day moving average is $113.95 and its 200 day moving average is $101.32.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. As a group, equities analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

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.