5T Wealth LLC Makes New $1.05 Million Investment in Arista Networks, Inc. (NYSE:ANET)

5T Wealth LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,468 shares of the technology company’s stock, valued at approximately $1,046,000.

Several other large investors have also made changes to their positions in ANET. Swedbank AB raised its position in shares of Arista Networks by 293.2% in the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after buying an additional 5,034,022 shares during the period. WCM Investment Management LLC raised its position in shares of Arista Networks by 292.8% in the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after buying an additional 4,512,166 shares during the period. Jennison Associates LLC raised its position in shares of Arista Networks by 307.7% in the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying 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% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after buying 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% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock worth $259,557,000 after buying an additional 1,773,777 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other news, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks 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 sale, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock worth $37,787,297 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group raised their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.59.

Arista Networks Stock Down 2.8 %

Shares of ANET stock opened at $106.64 on Monday. The business has a 50 day moving average of $113.94 and a two-hundred day moving average of $101.06. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a market cap of $134.35 billion, a P/E ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09.

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.