Rooted Wealth Advisors Inc. Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Rooted Wealth Advisors Inc. boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 301.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,690 shares of the technology company’s stock after buying an additional 2,020 shares during the quarter. Rooted Wealth Advisors Inc.’s holdings in Arista Networks were worth $310,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Caitlin John LLC grew its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont grew its position in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares in the last quarter. New Millennium Group LLC raised its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Westside Investment Management Inc. lifted its position in shares of Arista Networks by 1,012.0% during the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were 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 approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 335,832 shares of company stock valued at $37,787,297. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ANET. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Rosenblatt Securities increased their price target on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Arista Networks Stock Up 0.1 %

Shares of NYSE:ANET opened at $109.75 on Friday. The firm has a 50-day simple moving average of $113.91 and a 200 day simple moving average of $100.65. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market cap of $138.26 billion, a PE ratio of 52.77, a P/E/G ratio of 3.10 and a beta of 1.09.

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.