Profund Advisors LLC Sells 10,543 Shares of Arista Networks, Inc. $ANET

Profund Advisors LLC trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 17.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,700 shares of the technology company’s stock after selling 10,543 shares during the quarter. Profund Advisors LLC’s holdings in Arista Networks were worth $7,096,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Arista Networks during the 2nd quarter valued at $1,228,177,000. Massachusetts Financial Services Co. MA grew its holdings in Arista Networks by 2,829.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after purchasing an additional 5,525,828 shares during the period. Nordea Investment Management AB increased its holdings in Arista Networks by 193.3% in the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after acquiring an additional 4,656,021 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Arista Networks during the 2nd quarter valued at $247,451,000. Finally, Schroder Investment Management Group raised its holdings in Arista Networks by 14.8% during the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after acquiring an additional 1,350,593 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the sale, the director owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock valued at $27,553,548 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ANET shares. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Morgan Stanley cut their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Trading Up 6.9%

Shares of ANET opened at $137.50 on Monday. The firm has a market cap of $173.15 billion, a PE ratio of 52.28, a P/E/G ratio of 2.32 and a beta of 1.42. The stock has a fifty day moving average price of $131.78 and a 200-day moving average price of $136.28. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

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.