Planned Solutions Inc. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,315 shares of the technology company’s stock, valued at approximately $310,000.
Several other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new position in shares of Arista Networks in the 3rd quarter worth $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks in the 3rd quarter worth $29,000. Hollencrest Capital Management bought a new position in Arista Networks in the 1st quarter worth $30,000. BluePath Capital Management LLC purchased a new stake in Arista Networks in the third quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks in the 3rd quarter worth approximately $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks Stock Performance
NYSE:ANET opened at $288.41 on Thursday. The stock has a market capitalization of $90.17 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.57 and a beta of 1.10. The company’s 50-day simple moving average is $274.45 and its 200-day simple moving average is $232.99. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.
Insider Transactions at Arista Networks
In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The stock was 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $234.00, for a total transaction of $243,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,084 shares of company stock worth $79,741,091. Company insiders own 18.99% of the company’s stock.
Wall Street Analyst Weigh In
ANET has been the topic of several recent analyst reports. Citigroup lifted their target price on Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Barclays increased their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Morgan Stanley upped their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group raised their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $230.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.
Read Our Latest Stock Report 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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