Keystone Financial Services Buys 1,767 Shares of Arista Networks, Inc. (NYSE:ANET)

Keystone Financial Services boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 311.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,335 shares of the technology company’s stock after purchasing an additional 1,767 shares during the period. Keystone Financial Services’ holdings in Arista Networks were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC raised its position in Arista Networks by 297.2% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,217 shares of the technology company’s stock valued at $356,000 after buying an additional 2,407 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Arista Networks by 327.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 21,603 shares of the technology company’s stock valued at $2,388,000 after purchasing an additional 16,546 shares during the last quarter. Csenge Advisory Group lifted its position in shares of Arista Networks by 107.1% in the fourth quarter. Csenge Advisory Group now owns 4,635 shares of the technology company’s stock worth $512,000 after purchasing an additional 2,397 shares in the last quarter. WD Rutherford LLC boosted its holdings in Arista Networks by 299.1% during the fourth quarter. WD Rutherford LLC now owns 57,320 shares of the technology company’s stock worth $6,336,000 after purchasing an additional 42,956 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in Arista Networks by 244.6% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 34,381 shares of the technology company’s stock valued at $3,800,000 after purchasing an additional 24,405 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Rosenblatt Securities raised their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred 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 represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of ANET stock opened at $106.64 on Monday. The company has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a 50-day simple moving average of $113.94 and a 200 day simple moving average of $101.06.

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.