one8zero8 LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 44,000 shares of the technology company’s stock, valued at approximately $4,863,000. Arista Networks makes up about 1.0% of one8zero8 LLC’s portfolio, making the stock its 19th largest holding.
A number of other institutional investors also recently bought and sold shares of ANET. Zions Bancorporation N.A. lifted its position in Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after buying an additional 27 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in Arista Networks by 4.9% in the third quarter. OneDigital Investment Advisors LLC now owns 4,421 shares of the technology company’s stock worth $1,697,000 after buying an additional 207 shares during the last quarter. Intellectus Partners LLC lifted its position in Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares during the last quarter. CIBC Asset Management Inc increased its stake in Arista Networks by 9.3% in the third quarter. CIBC Asset Management Inc now owns 39,140 shares of the technology company’s stock worth $15,023,000 after purchasing an additional 3,322 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in Arista Networks by 52.0% in the third quarter. Valley Wealth Managers Inc. now owns 3,477 shares of the technology company’s stock worth $1,335,000 after purchasing an additional 1,190 shares during the period. 82.47% of the stock is currently owned by institutional investors.
Arista Networks Price Performance
ANET opened at $83.58 on Friday. The business’s 50-day moving average is $105.75 and its two-hundred day moving average is $101.82. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a market capitalization of $105.41 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.
Insider Buying and Selling at Arista Networks
In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 over the last quarter. Insiders own 3.54% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on ANET shares. Morgan Stanley increased their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. UBS Group upgraded Arista Networks from a “neutral” rating to a “buy” rating and increased their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average price target of $114.00.
Check Out Our Latest Report on Arista Networks
Arista Networks 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.
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