Nations Financial Group Inc. IA ADV Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Nations Financial Group Inc. IA ADV lifted its holdings in Arista Networks, Inc. (NYSE:ANETFree Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,514 shares of the technology company’s stock after purchasing an additional 42 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Arista Networks were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Private Advisor Group LLC boosted its holdings in shares of Arista Networks by 2.5% during the 3rd quarter. Private Advisor Group LLC now owns 4,137 shares of the technology company’s stock valued at $761,000 after acquiring an additional 102 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Arista Networks in the 3rd quarter worth $33,000. Versor Investments LP grew its holdings in shares of Arista Networks by 22.1% in the third quarter. Versor Investments LP now owns 2,005 shares of the technology company’s stock worth $369,000 after acquiring an additional 363 shares during the period. Flputnam Investment Management Co. bought a new stake in shares of Arista Networks in the third quarter worth $224,000. Finally, Sigma Planning Corp lifted its holdings in Arista Networks by 15.2% in the third quarter. Sigma Planning Corp now owns 5,281 shares of the technology company’s stock valued at $971,000 after acquiring an additional 698 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE ANET traded up $5.13 on Monday, reaching $306.55. 2,136,400 shares of the stock traded hands, compared to its average volume of 2,550,845. Arista Networks, Inc. has a 12 month low of $148.32 and a 12 month high of $329.04. The company has a fifty day moving average price of $287.34 and a 200-day moving average price of $261.80. The company has a market cap of $96.06 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.77 and a beta of 1.13.

Arista Networks (NYSE:ANETGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.24. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total value of $70,543.82. Following the completion of the transaction, the director now directly owns 2,976 shares in the company, valued at $941,427.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 223 shares of Arista Networks stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total transaction of $70,543.82. Following the completion of the sale, the director now owns 2,976 shares of the company’s stock, valued at $941,427.84. The disclosure for this sale can be found here. Insiders sold 414,109 shares of company stock worth $121,583,803 in the last three months. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ANET shares. Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $240.00 to $320.00 in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a research note on Wednesday, May 8th. Barclays lifted their price objective on shares of Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Piper Sandler upped their price objective on Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Evercore ISI boosted their target price on Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $295.22.

View Our Latest Report on Arista Networks

Arista Networks Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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