Caprock Group LLC Takes $9.29 Million Position in Arista Networks, Inc. $ANET

Caprock Group LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 68,065 shares of the technology company’s stock, valued at approximately $9,294,000.

Other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its position in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the last quarter. Bare Financial Services Inc increased its stake in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the period. Finally, Guerra Advisors Inc purchased a new position in shares of Arista Networks during the third quarter worth $41,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 1.4%

NYSE ANET opened at $143.71 on Wednesday. The stock has a market capitalization of $180.97 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 2.39 and a beta of 1.42. The stock has a 50-day moving average of $132.39 and a 200 day moving average of $136.68. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the completion of the sale, the insider owned 12,976 shares in the company, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock worth $27,553,548 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ANET. Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Morgan Stanley dropped their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Rosenblatt Securities lifted their price target on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, 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. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.00.

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.