Buckingham Capital Management Inc. Buys Shares of 1,872 Arista Networks, Inc. (NYSE:ANET)

Buckingham Capital Management Inc. purchased a new position in Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,872 shares of the technology company’s stock, valued at approximately $207,000.

Several other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $44,000. HM Payson & Co. increased its holdings in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the last quarter. True Wealth Design LLC raised its position in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the last quarter. Finally, Transcendent Capital Group LLC grew its position in shares of Arista Networks by 75.0% during the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after acquiring an additional 75 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 6,340 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the completion of the transaction, the insider now directly owns 288 shares of the company’s stock, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 335,832 shares of company stock valued at $37,787,297. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 2.8 %

Shares of Arista Networks stock opened at $106.64 on Tuesday. 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 $113.94 and a 200-day moving average price of $101.16. The firm has a market cap of $134.35 billion, a price-to-earnings ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09.

Analyst Ratings Changes

Several research firms have issued reports on ANET. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Barclays dropped 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. Finally, Wells Fargo & Company raised their price objective on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $107.59.

Arista Networks 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.