Arista Networks, Inc. $ANET Stock Position Lowered by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its position in Arista Networks, Inc. (NYSE:ANET) by 34.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,510 shares of the technology company’s stock after selling 19,519 shares during the quarter. Navellier & Associates Inc.’s holdings in Arista Networks were worth $5,320,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC boosted its position in shares of Arista Networks by 0.4% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Crown Wealth Group LLC lifted its stake in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after purchasing an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc boosted its holdings in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares in the last quarter. Finally, Stablepoint Partners LLC grew its position in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after buying an additional 77 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock worth $27,553,548 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 3.1%

NYSE:ANET opened at $141.79 on Tuesday. The business’s fifty day moving average price is $132.06 and its 200 day moving average price is $136.47. The firm has a market capitalization of $178.55 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ANET shares. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Morgan Stanley dropped their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $145.00 to $159.00 in a report on Monday, January 5th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.