Sierra Ocean LLC Makes New $38,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Sierra Ocean LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 348 shares of the technology company’s stock, valued at approximately $38,000.

Several other institutional investors have also added to or reduced their stakes in ANET. Swedbank AB raised its position in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after acquiring an additional 5,034,022 shares during the period. WCM Investment Management LLC raised its position in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after acquiring an additional 4,512,166 shares during the period. Jennison Associates LLC raised its position in shares of Arista Networks by 307.7% during the 4th 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 during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Arista Networks by 306.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock valued at $268,966,000 after purchasing an additional 1,835,421 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Arista Networks by 322.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock valued at $259,557,000 after purchasing an additional 1,773,777 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

ANET stock opened at $106.64 on Tuesday. The firm’s fifty day simple moving average is $113.94 and its 200-day simple moving average is $101.16. The company has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays reduced their price target 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. Finally, Evercore ISI lifted their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the transaction, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. 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. Insiders own 3.54% of the company’s stock.

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.