Community Financial Services Group LLC Increases Position in Arista Networks, Inc. (NYSE:ANET)

Community Financial Services Group LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 303.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,103 shares of the technology company’s stock after acquiring an additional 27,914 shares during the period. Community Financial Services Group LLC’s holdings in Arista Networks were worth $4,101,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks during the 4th quarter valued at approximately $242,000. Silver Oak Securities Incorporated increased its position in Arista Networks by 395.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Arista Networks by 475.5% in the fourth quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after buying an additional 3,457 shares during the period. Triasima Portfolio Management inc. lifted its position in shares of Arista Networks by 371.3% during the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after buying an additional 61,833 shares during the last quarter. Finally, GW Henssler & Associates Ltd. grew its stake in shares of Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after acquiring an additional 2,219 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

ANET stock opened at $116.82 on Wednesday. The firm has a 50 day simple moving average of $113.57 and a two-hundred day simple moving average of $100.33. The stock has a market cap of $147.16 billion, a PE ratio of 56.16, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now 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 a total of 335,832 shares of company stock valued at $37,787,297 over the last 90 days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. UBS Group raised their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

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.