Arista Networks, Inc. (NYSE:ANET) Stock Position Increased by US Bancorp DE

US Bancorp DE grew its position in Arista Networks, Inc. (NYSE:ANETFree Report) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,809 shares of the technology company’s stock after purchasing an additional 2,535 shares during the period. US Bancorp DE’s holdings in Arista Networks were worth $10,082,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ANET. Rakuten Securities Inc. acquired a new stake in Arista Networks in the 4th quarter valued at approximately $35,000. Atticus Wealth Management LLC raised its stake in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after purchasing an additional 145 shares in the last quarter. Sandy Spring Bank lifted its holdings in Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the period. First Command Advisory Services Inc. bought a new position in Arista Networks in the 3rd quarter valued at about $29,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ANET. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. UBS Group raised their target price on Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Piper Sandler boosted their price target on shares of Arista Networks from $268.00 to $302.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $295.22.

Get Our Latest Report on ANET

Arista Networks Trading Up 1.7 %

Shares of ANET stock opened at $306.55 on Monday. The company has a market capitalization of $96.06 billion, a price-to-earnings ratio of 42.69, a P/E/G ratio of 2.77 and a beta of 1.13. Arista Networks, Inc. has a 1-year low of $148.32 and a 1-year high of $329.04. The stock’s fifty day simple moving average is $287.34 and its 200-day simple moving average is $261.80.

Arista Networks (NYSE:ANETGet Free Report) last released its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.24. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.05 EPS for the current year.

Arista Networks declared that its Board of Directors has approved a stock buyback program on Tuesday, May 7th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction on Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kenneth Duda sold 14,416 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $326.03, for a total value of $4,700,048.48. Following the completion of the sale, the senior vice president now owns 252,382 shares of the company’s stock, valued at approximately $82,284,103.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 414,109 shares of company stock valued at $121,583,803. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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