Ferguson Wellman Capital Management Inc. Buys Shares of 1,848 Arista Networks, Inc. (NYSE:ANET)

Ferguson Wellman Capital Management Inc. bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,848 shares of the technology company’s stock, valued at approximately $204,000.

Several other large investors have also recently bought and sold shares of ANET. State Street Corp increased its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after purchasing an additional 411,109 shares during the period. Swedbank AB grew its position in Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC grew its position in 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 valued at $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Geode Capital Management LLC grew its position in 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 valued at $2,246,705,000 after purchasing an additional 236,151 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on ANET shares. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Barclays lowered their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by insiders.

Arista Networks Trading Up 1.4 %

Shares of Arista Networks stock opened at $120.15 on Tuesday. The firm has a fifty day simple moving average of $113.21 and a 200-day simple moving average of $100.04. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.57. The stock has a market capitalization of $151.36 billion, a price-to-earnings ratio of 57.76, a PEG ratio of 3.10 and a beta of 1.09.

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.