Kingsview Wealth Management LLC Has $2.05 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Kingsview Wealth Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 345.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,572 shares of the technology company’s stock after acquiring an additional 14,403 shares during the period. Kingsview Wealth Management LLC’s holdings in Arista Networks were worth $2,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Zions Bancorporation N.A. grew its holdings in shares of Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Intellectus Partners LLC boosted its position in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after acquiring an additional 27 shares during the last quarter. Altman Advisors Inc. raised its holdings in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the last quarter. HM Payson & Co. raised its holdings in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its position in shares of Arista Networks by 4.9% in the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock worth $246,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now directly owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % decrease in their position. 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 opened at $120.15 on Tuesday. The firm’s 50-day simple moving average is $113.21 and its 200 day simple moving average is $100.04. The firm has a market cap of $151.36 billion, a P/E ratio of 57.76, a price-to-earnings-growth 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ANET shares. Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Rosenblatt Securities boosted their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Finally, Barclays cut their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

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.