Arlington Capital Management Inc. Sells 56 Shares of Arista Networks, Inc. (NYSE:ANET)

Arlington Capital Management Inc. decreased its position in Arista Networks, Inc. (NYSE:ANET) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,110 shares of the technology company’s stock after selling 56 shares during the period. Arista Networks makes up 2.3% of Arlington Capital Management Inc.’s portfolio, making the stock its 11th largest position. Arlington Capital Management Inc.’s holdings in Arista Networks were worth $2,729,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ANET. GQG Partners LLC bought a new position in shares of Arista Networks during the first quarter worth about $881,848,000. Legal & General Group Plc lifted its position in shares of Arista Networks by 0.9% in the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares in the last quarter. Swedbank AB acquired a new stake in Arista Networks in the 1st quarter valued at $521,767,000. Ameriprise Financial Inc. raised its holdings in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Arista Networks by 18.7% in the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock valued at $273,652,000 after purchasing an additional 148,759 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 1,592 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the sale, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at $65,226,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 1,592 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the sale, the senior vice president now owns 186,600 shares in the company, valued at $65,226,030. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,522 shares of company stock valued at $20,099,338. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET traded up $4.06 during trading hours on Monday, hitting $398.23. 307,334 shares of the stock were exchanged, compared to its average volume of 2,191,540. The firm has a market capitalization of $125.10 billion, a P/E ratio of 51.66, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. The business has a 50-day moving average of $376.13 and a 200-day moving average of $339.82. Arista Networks, Inc. has a fifty-two week low of $203.19 and a fifty-two week high of $422.73.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ANET shares. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. KeyCorp boosted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler lifted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Finally, Citigroup raised their target price on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Arista Networks 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.