DekaBank Deutsche Girozentrale lessened its holdings in Arista Networks, Inc. (NYSE:ANET – Free Report) by 4.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 345,561 shares of the technology company’s stock after selling 15,401 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Arista Networks were worth $131,874,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. GQG Partners LLC bought a new stake in shares of Arista Networks in the 1st quarter worth about $881,848,000. Legal & General Group Plc increased its stake in Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares during the last quarter. Swedbank AB purchased a new stake in Arista Networks during the 1st quarter valued at $521,767,000. Ameriprise Financial Inc. grew its stake in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Arista Networks by 18.7% during the first quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock valued at $273,652,000 after buying an additional 148,759 shares during the period. Institutional investors own 82.47% of the company’s stock.
Arista Networks Trading Down 0.4 %
Shares of ANET opened at $394.09 on Friday. The firm has a market cap of $123.49 billion, a P/E ratio of 54.89, a PEG ratio of 3.21 and a beta of 1.07. The stock’s 50 day moving average is $372.10 and its two-hundred day moving average is $335.14. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73.
Wall Street Analysts Forecast Growth
ANET has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. KeyCorp boosted their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Rosenblatt Securities raised their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Citigroup increased their price target on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI increased their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.50.
Read Our Latest Stock Report on Arista Networks
Insider Transactions at Arista Networks
In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,570 shares of company stock worth $21,474,782 in the last ninety days. Insiders own 3.54% of the company’s stock.
About Arista Networks
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.
See Also
- Five stocks we like better than Arista Networks
- The 3 Best Retail Stocks to Shop for in August
- Real Estate Sector Outperforms: 3 Stocks to Gain Exposure
- Canada Bond Market Holiday: How to Invest and Trade
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- What Are Dividend Champions? How to Invest in the Champions
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.