Pittenger & Anderson Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 35.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,395 shares of the technology company’s stock after acquiring an additional 2,205 shares during the period. Pittenger & Anderson Inc.’s holdings in Arista Networks were worth $1,977,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares during the last quarter. FMR LLC increased its holdings in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. WCM Investment Management LLC lifted its position in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares in the last quarter. Northern Trust Corp lifted its holdings in Arista Networks by 5.0% during the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after purchasing an additional 114,978 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Arista Networks by 0.8% during the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock worth $425,683,000 after acquiring an additional 14,627 shares during the period. Institutional investors own 82.47% of the company’s stock.
Arista Networks Trading Up 3.9 %
Shares of ANET traded up $9.99 during midday trading on Thursday, hitting $264.76. The stock had a trading volume of 3,534,376 shares, compared to its average volume of 2,482,536. The firm has a market cap of $82.77 billion, a P/E ratio of 38.78, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The business has a 50-day simple moving average of $279.08 and a two-hundred day simple moving average of $246.25.
Wall Street Analysts Forecast Growth
ANET has been the subject of several research reports. KeyCorp upped their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 8th. Piper Sandler raised their price target on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Finally, Barclays raised their price target on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $275.59.
Get Our Latest Research Report on ANET
Insider Transactions at Arista Networks
In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 278 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $265.81, for a total transaction of $73,895.18. Following the completion of the transaction, the director now directly owns 2,553 shares of the company’s stock, valued at approximately $678,612.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,494 shares of company stock valued at $95,632,321. 18.99% of the stock is owned by corporate insiders.
Arista Networks Company 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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