Rooted Wealth Advisors Inc. Increases Position in Arista Networks, Inc. (NYSE:ANET)

Rooted Wealth Advisors Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 301.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,690 shares of the technology company’s stock after purchasing an additional 2,020 shares during the period. Rooted Wealth Advisors Inc.’s holdings in Arista Networks were worth $310,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in shares of Arista Networks by 293.2% during the 4th 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 in the last quarter. WCM Investment Management LLC increased its stake in 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 valued at $674,627,000 after purchasing an additional 4,512,166 shares in the last quarter. Jennison Associates LLC raised its holdings in Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after purchasing an additional 3,496,497 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Arista Networks by 306.9% in the fourth 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 last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Arista Networks by 322.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock valued at $259,557,000 after buying an additional 1,773,777 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 0.1 %

NYSE ANET opened at $109.75 on Friday. The business’s 50-day moving average price is $113.91 and its 200 day moving average price is $100.65. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The company has a market capitalization of $138.26 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock valued at $37,787,297 in the last 90 days. 3.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on ANET shares. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Rosenblatt Securities lifted their price objective on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Barclays reduced their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Evercore ISI raised their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

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.