Quent Capital LLC Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Quent Capital LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 304.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,237 shares of the technology company’s stock after buying an additional 1,684 shares during the quarter. Quent Capital LLC’s holdings in Arista Networks were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Zions Bancorporation N.A. boosted its stake in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the period. Intellectus Partners LLC boosted its stake in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares during the period. Altman Advisors Inc. boosted its stake in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares during the last quarter. HM Payson & Co. boosted its stake in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC boosted its stake in Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of a number of research reports. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley increased their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler reissued a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, 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 note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total transaction of $825,300.00. Following the transaction, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,832 shares of company stock worth $37,787,297. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $109.61 on Thursday. The business’s 50 day moving average price is $113.83 and its 200-day moving average price is $100.59. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market cap of $138.08 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 3.10 and a beta of 1.09.

About Arista Networks

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.