Arista Networks, Inc. $ANET Holdings Trimmed by AlTi Global Inc.

AlTi Global Inc. trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 13.5% in the third quarter, Holdings Channel.com reports. The fund owned 30,718 shares of the technology company’s stock after selling 4,791 shares during the period. AlTi Global Inc.’s holdings in Arista Networks were worth $4,476,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ANET. Walkner Condon Financial Advisors LLC boosted its holdings in shares of Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock worth $2,697,000 after buying an additional 70 shares during the period. AdvisorNet Financial Inc grew its stake in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares in the last quarter. Crown Wealth Group LLC lifted its stake in Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after acquiring an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc grew its holdings in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after purchasing an additional 76 shares during the last quarter. Finally, Stablepoint Partners LLC increased its position in Arista Networks by 0.8% in the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after buying an additional 77 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ANET shares. Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. UBS Group restated a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a report on Wednesday, December 3rd. Barclays reissued an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the sale, the director owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 216,464 shares of company stock worth $27,553,548. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $141.79 on Tuesday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The business has a fifty day moving average price of $132.06 and a two-hundred day moving average price of $136.47. The company has a market capitalization of $178.55 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 2.32 and a beta of 1.42.

Arista Networks 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.