Oppenheimer Asset Management Inc. Increases Stock Holdings in Arista Networks, Inc. $ANET

Oppenheimer Asset Management Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 13.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,203 shares of the technology company’s stock after purchasing an additional 19,545 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arista Networks were worth $24,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc lifted its holdings in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares during the period. SJS Investment Consulting Inc. increased its position in shares of Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Solstein Capital LLC increased its position in shares of Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the transaction, the director directly owned 9,784 shares of the company’s stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,694,800.00. Following the sale, the insider owned 12,976 shares in the company, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 216,464 shares of company stock worth $27,553,548. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 6.9%

Shares of ANET stock opened at $137.50 on Monday. The firm has a 50 day moving average of $131.78 and a two-hundred day moving average of $136.28. The stock has a market capitalization of $173.15 billion, a PE ratio of 52.28, a P/E/G ratio of 2.32 and a beta of 1.42. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group reaffirmed a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Barclays restated an “overweight” rating and issued a $183.00 price objective (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Morgan Stanley decreased their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

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.