L. Roy Papp & Associates LLP Buys 2,400 Shares of Arista Networks, Inc. (NYSE:ANET)

L. Roy Papp & Associates LLP raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,200 shares of the technology company’s stock after buying an additional 2,400 shares during the period. L. Roy Papp & Associates LLP’s holdings in Arista Networks were worth $354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. MidAtlantic Capital Management Inc. bought a new position in Arista Networks in the third quarter valued at about $44,000. HM Payson & Co. increased its position in shares of Arista Networks by 28.2% during the 3rd 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 stake in shares of Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Arista Networks by 186.0% in the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock worth $55,000 after buying an additional 93 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

Arista Networks stock opened at $116.82 on Wednesday. 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 price is $113.57 and its 200-day moving average price is $100.33. The stock has a market cap of $147.16 billion, a P/E ratio of 56.16, a PEG ratio of 3.10 and a beta of 1.09.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction that occurred on Monday, December 9th. The stock was 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 accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock valued at $37,787,297 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. UBS Group upped their price objective on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

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.