Arista Networks, Inc. $ANET Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. reduced 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 fund 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 quarter.

A number of other large investors also recently bought and sold shares of ANET. Walkner Condon Financial Advisors LLC boosted its holdings in Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 70 shares during the period. AdvisorNet Financial Inc lifted its position 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 buying an additional 72 shares during the last quarter. Crown Wealth Group LLC lifted its position in shares of Arista Networks by 2.4% in the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after buying an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc boosted its holdings in shares of Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after buying an additional 76 shares during the period. Finally, Stablepoint Partners LLC grew its position in shares of Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after buying an additional 77 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ANET shares. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Barclays reaffirmed an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. UBS Group reissued a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a report on Wednesday, December 3rd. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks Price Performance

ANET opened at $141.79 on Tuesday. The stock’s 50 day moving average price is $132.06 and its 200 day moving average price is $136.47. The stock has a market cap of $178.55 billion, a P/E ratio of 53.91, a P/E/G ratio of 2.32 and a beta of 1.42. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,464 shares of company stock valued at $27,553,548 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Arista Networks Company 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.