Waterloo Capital L.P. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 620 shares of the technology company’s stock, valued at approximately $217,000.
Other large investors have also recently bought and sold shares of the company. Beacon Capital Management LLC increased its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks in the second quarter valued at $27,000. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks during the first quarter valued at about $26,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks during the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
Arista Networks Trading Up 4.9 %
ANET stock opened at $379.36 on Friday. The stock has a market cap of $118.88 billion, a P/E ratio of 52.84, a P/E/G ratio of 2.70 and a beta of 1.07. The stock’s fifty day simple moving average is $341.09 and its two-hundred day simple moving average is $315.79. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $380.54.
Insider Activity
In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the transaction, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock valued at $38,024,123 in the last three months. Company insiders own 3.54% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ANET shares. JPMorgan Chase & Co. increased their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Piper Sandler upped their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. UBS Group raised their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group upped their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $358.63.
Get Our Latest Research Report on Arista Networks
About Arista Networks
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.
See Also
- Five stocks we like better than Arista Networks
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- 3 Fintech Stocks With Good 2021 Prospects
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.