Arista Networks, Inc. $ANET Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Arista Networks, Inc. (NYSE:ANET) by 13.3% during the third quarter, Holdings Channel.com reports. The firm owned 166,203 shares of the technology company’s stock after acquiring an additional 19,545 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arista Networks were worth $24,217,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Bare Financial Services Inc raised its stake in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares in the last quarter. Finally, Solstein Capital LLC lifted its stake in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $137.50 on Monday. The company has a market capitalization of $173.15 billion, a P/E ratio of 52.28, 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. The company’s fifty day moving average is $131.78 and its two-hundred day moving average is $136.28.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Morgan Stanley dropped their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Rosenblatt Securities restated a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Finally, UBS Group reiterated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.44.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the company’s 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 sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,464 shares of company stock valued at $27,553,548 over the last quarter. 3.54% of the stock is currently owned by insiders.

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.