AlphaCentric Advisors LLC Has $52,000 Stake in Arista Networks, Inc. (NYSE:ANET)

AlphaCentric Advisors LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 239.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 472 shares of the technology company’s stock after acquiring an additional 333 shares during the period. AlphaCentric Advisors LLC’s holdings in Arista Networks were worth $52,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Arista Networks by 300.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,359,381 shares of the technology company’s stock valued at $150,252,000 after purchasing an additional 1,019,825 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Arista Networks by 300.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 393,568 shares of the technology company’s stock worth $43,501,000 after buying an additional 295,176 shares during the period. Americana Partners LLC boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Americana Partners LLC now owns 7,904 shares of the technology company’s stock worth $874,000 after acquiring an additional 5,928 shares in the last quarter. Capital Performance Advisors LLP grew its stake in Arista Networks by 467.9% in the fourth quarter. Capital Performance Advisors LLP now owns 2,090 shares of the technology company’s stock valued at $231,000 after acquiring an additional 1,722 shares during the period. Finally, Strategic Advisors LLC grew its stake in Arista Networks by 304.3% in the fourth quarter. Strategic Advisors LLC now owns 10,984 shares of the technology company’s stock valued at $1,214,000 after acquiring an additional 8,267 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

NYSE:ANET opened at $106.64 on Tuesday. The company has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. The business has a fifty day simple moving average of $113.94 and a two-hundred day simple moving average of $101.16. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Barclays dropped 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 note on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Piper Sandler reiterated a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Arista Networks Company 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.