Peak Financial Advisors LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,571 shares of the technology company’s stock, valued at approximately $3,290,000. Arista Networks accounts for approximately 1.7% of Peak Financial Advisors LLC’s holdings, making the stock its 16th largest holding.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Arista Networks during the first quarter worth about $881,848,000. Legal & General Group Plc grew its holdings in shares of 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 buying an additional 20,278 shares during the last quarter. Swedbank AB acquired a new position in Arista Networks in the 1st quarter valued at about $521,767,000. Finally, Ameriprise Financial Inc. raised its stake in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Arista Networks Price Performance
ANET stock opened at $416.97 on Friday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $417.71. The firm has a market capitalization of $130.99 billion, a PE ratio of 54.08, a P/E/G ratio of 3.21 and a beta of 1.07. The company’s 50 day simple moving average is $359.35 and its 200-day simple moving average is $327.45.
Insider Buying and Selling at Arista Networks
In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % 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 this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 836 shares of Arista Networks stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $386.68, for a total transaction of $323,264.48. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $6,836,889.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,197 shares of company stock worth $21,326,894. Corporate insiders own 3.54% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. Jefferies Financial Group upped their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Evercore ISI boosted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.50.
Read Our Latest Analysis on ANET
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.
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