Profund Advisors LLC Has $7.10 Million Stock Position in Arista Networks, Inc. $ANET

Profund Advisors LLC decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 17.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,700 shares of the technology company’s stock after selling 10,543 shares during the quarter. Profund Advisors LLC’s holdings in Arista Networks were worth $7,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Walkner Condon Financial Advisors LLC increased its holdings in Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Crown Wealth Group LLC grew its holdings in Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after purchasing an additional 75 shares during the period. Fragasso Financial Advisors Inc increased its position in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after buying an additional 76 shares in the last quarter. Finally, Stablepoint Partners LLC increased its holdings in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after acquiring an additional 77 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the transaction, the insider owned 12,976 shares in the company, valued at $1,598,124.16. This represents a 69.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 216,464 shares of company stock valued at $27,553,548. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. Barclays reissued an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. UBS Group reissued a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Finally, Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks Trading Up 6.9%

ANET opened at $137.50 on Monday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The business’s 50-day moving average price is $131.78 and its 200-day moving average price is $136.28. The company has a market cap of $173.15 billion, a P/E ratio of 52.28, a P/E/G ratio of 2.32 and a beta of 1.42.

About Arista Networks

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.