Arista Networks, Inc. (NYSE:ANET) Shares Acquired by International Assets Investment Management LLC
International Assets Investment Management LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,606 shares of the technology company’s stock after purchasing an additional 179 shares during the period. International Assets Investment Management LLC’s holdings in Arista Networks were worth $614,000 as of its most recent SEC filing. Several other hedge funds and other institutional investors also recently bought and sold shares of ANET. Vanguard Group Inc. grew its position in Arista Networks by 0.3% in the 3rd 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 boosted its holdings in shares of Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares in the last quarter. Northern Trust Corp increased its stake in shares of Arista Networks by 5.0% during the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after acquiring an additional 114,978 shares during the period. DSM Capital Partners LLC raised its holdings in Arista Networks by 1.6% during the third quarter. DSM Capital Partners LLC now owns 1,503,100 shares of the technology company’s stock worth $276,465,000 after purchasing an additional 23,848 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Arista Networks by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,354,157 shares of the technology company’s stock valued at $249,070,000 after purchasing an additional 20,196 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors. Analysts Set New Price Targets Several equities analysts have issued reports on ANET shares. The Goldman Sachs Group boosted their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Piper Sandler boosted their target price on shares of Arista Networks from $268.00 to $302.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Finally, UBS Group boosted their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.00. Get Our Latest Stock Report on Arista Networks Insider Transactions at Arista Networks In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $317.00, for a total transaction of $7,925,000.00. Following the completion of the transaction, the chief executive officer now owns 1,615,800 shares of the company’s stock, valued at approximately $512,208,600. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The disclosure for this sale can be found here. Insiders sold a total of 386,018 shares of company stock worth $112,232,499 over the last ninety days. 3.54% of the stock is currently owned by corporate insiders. Arista Networks Trading Down 0.1 % Shares of ANET stock opened at $319.89 on Monday. Arista Networks, Inc. has a twelve month low of $133.42 and a twelve month high of $329.04. The company has a market capitalization of $100.24 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 2.89 and a beta of 1.13. The firm has a 50-day moving average price of $284.03 and a 200 day moving average price of $258.26. Arista Networks declared that its board has authorized a share buyback program on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued. Arista Networks 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.
May 20, 2024 | www.defenseworld.net
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