Shell Asset Management Co. raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 312.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,924 shares of the technology company’s stock after purchasing an additional 10,552 shares during the quarter. Shell Asset Management Co.’s holdings in Arista Networks were worth $1,539,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of ANET. Caitlin John LLC lifted its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of 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 last quarter. Trust Co. of Vermont lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
Arista Networks Price Performance
Shares of ANET opened at $96.31 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a 50-day moving average of $80.29 and a 200 day moving average of $97.20. The firm has a market capitalization of $120.95 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 3.10 and a beta of 1.38.
Arista Networks declared that its board has approved a stock repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on ANET shares. Rosenblatt Securities raised their target price on shares of Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on shares of Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. KGI Securities lowered shares of Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Arista Networks in a report on Thursday. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $107.14.
View Our Latest Report on Arista Networks
Insider Activity
In related news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 410,867 shares of company stock worth $37,056,669. 3.39% of the stock is currently owned by corporate insiders.
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.
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