Legacy Capital Wealth Partners LLC Purchases 4,774 Shares of Arista Networks, Inc. (NYSE:ANET)

Legacy Capital Wealth Partners LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 301.6% in the 4th quarter, HoldingsChannel reports. The firm owned 6,357 shares of the technology company’s stock after acquiring an additional 4,774 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Arista Networks were worth $703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Caitlin John LLC raised its stake in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Trust Co. of Vermont raised its stake in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. New Millennium Group LLC raised its stake in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ANET shares. Piper Sandler reissued a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Barclays lowered their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley boosted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group upped their price objective on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the 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 transaction, the insider now directly owns 288 shares in the company, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $106.64 on Friday. The company has a market capitalization of $134.35 billion, a PE ratio of 51.27, a P/E/G ratio of 3.10 and a beta of 1.09. The company has a 50 day simple moving average of $113.94 and a two-hundred day simple moving average of $100.90. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

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.