Trexquant Investment LP Has $4.92 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Trexquant Investment LP decreased its stake in Arista Networks, Inc. (NYSE:ANET) by 40.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,881 shares of the technology company’s stock after selling 14,192 shares during the period. Trexquant Investment LP’s holdings in Arista Networks were worth $4,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in Arista Networks in the third quarter worth approximately $29,000. NBC Securities Inc. bought a new position in Arista Networks in the third quarter worth approximately $33,000. Atticus Wealth Management LLC boosted its holdings in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Arista Networks in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 14,416 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $326.03, for a total transaction of $4,700,048.48. Following the completion of the transaction, the senior vice president now directly owns 252,382 shares in the company, valued at $82,284,103.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Kenneth Duda sold 14,416 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $326.03, for a total transaction of $4,700,048.48. Following the completion of the transaction, the senior vice president now directly owns 252,382 shares in the company, valued at $82,284,103.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The disclosure for this sale can be found here. Insiders sold a total of 394,836 shares of company stock worth $115,437,764 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $316.50 on Thursday. The stock has a market cap of $99.18 billion, a PE ratio of 44.08, a price-to-earnings-growth ratio of 2.87 and a beta of 1.13. Arista Networks, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $329.04. The stock has a fifty day moving average of $286.42 and a 200-day moving average of $260.16.

Arista Networks declared that its board has initiated a share repurchase program on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on ANET. Wells Fargo & Company increased their price target on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. KeyCorp increased their price objective on Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group increased their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note 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 note on Thursday, April 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.22.

Arista Networks Profile

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.