HMS Capital Management LLC Has $472,000 Position in Arista Networks, Inc. (NYSE:ANET)

HMS Capital Management LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 289.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,272 shares of the technology company’s stock after purchasing an additional 3,175 shares during the quarter. HMS Capital Management LLC’s holdings in Arista Networks were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its position in shares of Arista Networks by 3.8% during 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 during the period. Swedbank AB grew its holdings in shares of Arista Networks by 293.2% during the fourth 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 in the last quarter. WCM Investment Management LLC grew its holdings in shares of Arista Networks by 292.8% during the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after buying an additional 4,512,166 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after buying an additional 236,151 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying an additional 3,496,497 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group increased their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities increased their price objective on 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 Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price objective (up 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 company an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Activity

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the sale, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock valued at $37,787,297 over the last three months. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 6.2 %

ANET opened at $109.61 on Thursday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The stock has a market cap of $138.08 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 3.10 and a beta of 1.09. The business has a 50 day moving average of $113.83 and a 200-day moving average of $100.59.

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.