Quent Capital LLC Increases Position in Arista Networks, Inc. (NYSE:ANET)

Quent Capital LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 304.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,237 shares of the technology company’s stock after acquiring an additional 1,684 shares during the quarter. Quent Capital LLC’s holdings in Arista Networks were worth $247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stock Yards Bank & Trust Co. acquired a new stake in shares of Arista Networks in the 4th quarter worth $242,000. Silver Oak Securities Incorporated boosted its position in shares of Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 14,843 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Arista Networks by 475.5% in the 4th quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock worth $462,000 after purchasing an additional 3,457 shares in the last quarter. Triasima Portfolio Management inc. boosted its position in shares of Arista Networks by 371.3% in the 4th quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock worth $8,675,000 after purchasing an additional 61,833 shares in the last quarter. Finally, GW Henssler & Associates Ltd. boosted its position in shares of Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the 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 completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now directly owns 288 shares of the company’s stock, valued at $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 335,832 shares of company stock worth $37,787,297 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 6.2 %

Shares of Arista Networks stock opened at $109.61 on Thursday. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The business has a 50-day moving average price of $113.83 and a 200 day moving average price of $100.59. The firm has a market cap of $138.08 billion, a PE ratio of 52.70, a P/E/G ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ANET. Barclays lowered their price objective on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, UBS Group lifted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.