RFG Advisory LLC Has $4.46 Million Stock Position in Arista Networks, Inc. $ANET

RFG Advisory LLC lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 19.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,614 shares of the technology company’s stock after selling 7,491 shares during the period. RFG Advisory LLC’s holdings in Arista Networks were worth $4,461,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ANET. Walkner Condon Financial Advisors LLC raised its position in Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after buying an additional 70 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Crown Wealth Group LLC lifted its position in shares of Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after purchasing an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc boosted its holdings in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares during the last quarter. Finally, Stablepoint Partners LLC grew its position in Arista Networks by 0.8% in the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 3.1%

ANET opened at $141.79 on Tuesday. The firm has a 50-day moving average price of $132.06 and a 200-day moving average price of $136.47. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market capitalization of $178.55 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42.

Analyst Ratings Changes

Several equities analysts have commented on ANET shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $145.00 to $159.00 in a report on Monday, January 5th. Morgan Stanley reduced their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. UBS Group reissued a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a report on Wednesday, December 3rd. Finally, Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Insider Buying and Selling at Arista Networks

In related news, insider Kenneth Duda sold 26,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the sale, the insider owned 522,400 shares of the company’s stock, valued at approximately $67,091,832. This represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 216,464 shares of company stock worth $27,553,548. 3.54% of the stock is owned by insiders.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.