Keybank National Association OH raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 43.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,180 shares of the technology company’s stock after buying an additional 90,032 shares during the quarter. Keybank National Association OH’s holdings in Arista Networks were worth $36,242,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Lighthouse Financial Services Inc. ADV bought a new stake in Arista Networks during the fourth quarter worth about $1,549,000. Bensler LLC bought a new position in shares of Arista Networks during the 4th quarter valued at about $6,350,000. QRG Capital Management Inc. raised its holdings in shares of Arista Networks by 6.4% during the 4th quarter. QRG Capital Management Inc. now owns 169,613 shares of the technology company’s stock valued at $22,224,000 after buying an additional 10,217 shares in the last quarter. Reaves W H & Co. Inc. purchased a new position in shares of Arista Networks during the 4th quarter valued at about $3,058,000. Finally, Jefferies Financial Group Inc. lifted its position in Arista Networks by 59.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 17,621 shares of the technology company’s stock worth $2,309,000 after buying an additional 6,591 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
Arista Networks Price Performance
ANET opened at $160.38 on Friday. The stock’s 50 day simple moving average is $159.42 and its 200 day simple moving average is $143.80. The firm has a market cap of $201.95 billion, a price-to-earnings ratio of 54.93, a PEG ratio of 2.57 and a beta of 1.60. Arista Networks, Inc. has a 1 year low of $100.33 and a 1 year high of $179.80.
Wall Street Analyst Weigh In
ANET has been the topic of a number of recent research reports. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Arista Networks to a “buy” rating in a report on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $190.00 price objective (up from $180.00) on shares of Arista Networks in a research note on Friday, June 12th. Truist Financial set a $175.00 target price on shares of Arista Networks in a report on Wednesday, May 6th. Finally, Raymond James Financial upgraded shares of Arista Networks from a “market perform” rating to an “outperform” rating and set a $164.00 target price on the stock in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $187.63.
Check Out Our Latest Report on Arista Networks
Insider Buying and Selling at Arista Networks
In related news, major shareholder Andreas Bechtolsheim sold 260,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $165.57, for a total transaction of $43,048,200.00. Following the completion of the sale, the insider directly owned 182,543,048 shares in the company, valued at $30,223,652,457.36. This represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 428,000 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $177.44, for a total transaction of $75,944,320.00. Following the sale, the chief executive officer directly owned 5,209,207 shares of the company’s stock, valued at $924,321,690.08. The trade was a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,639,080 shares of company stock worth $430,322,162. 2.70% of the stock is owned by insiders.
Arista Networks Company 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.
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