1832 Asset Management L.P. Has $3.51 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

1832 Asset Management L.P. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 12.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 12,103 shares of the technology company’s stock after purchasing an additional 1,354 shares during the quarter. 1832 Asset Management L.P.’s holdings in Arista Networks were worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $26,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Arista Networks during the 4th quarter worth approximately $35,000. Sandy Spring Bank grew its holdings in shares of Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ANET. Rosenblatt Securities restated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research report on Friday, April 12th. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research report on Wednesday, May 8th. Citigroup raised their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Piper Sandler raised their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.12.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,076 shares of company stock valued at $68,928,479. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 1.6 %

Shares of Arista Networks stock traded up $5.09 during trading on Friday, reaching $319.21. 2,351,934 shares of the company were exchanged, compared to its average volume of 1,894,565. Arista Networks, Inc. has a twelve month low of $149.10 and a twelve month high of $376.50. The business has a 50-day moving average price of $330.65 and a 200-day moving average price of $295.33. The firm has a market capitalization of $100.03 billion, a price-to-earnings ratio of 44.46, a P/E/G ratio of 2.77 and a beta of 1.11.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.06 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.