Signature Estate & Investment Advisors LLC Buys 53,184 Shares of Arista Networks, Inc. $ANET

Signature Estate & Investment Advisors LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 11.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 531,355 shares of the technology company’s stock after acquiring an additional 53,184 shares during the quarter. Arista Networks comprises 1.7% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 16th largest position. Signature Estate & Investment Advisors LLC’s holdings in Arista Networks were worth $77,424,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 216,464 shares of company stock valued at $27,553,548. 3.39% of the stock is currently owned by insiders.

Arista Networks Stock Up 6.9%

Shares of Arista Networks stock opened at $137.50 on Friday. The company has a market cap of $173.15 billion, a P/E ratio of 52.28, a PEG ratio of 2.32 and a beta of 1.42. The firm’s 50 day moving average price is $131.78 and its 200-day moving average price is $136.12. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ANET shares. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Morgan Stanley cut 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. Barclays restated an “overweight” rating and issued a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. 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. Finally, UBS Group reissued a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

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.