Disciplined Growth Investors Inc. MN decreased its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 603,236 shares of the technology company’s stock after selling 11,382 shares during the quarter. Arista Networks comprises 4.0% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 5th largest holding. Disciplined Growth Investors Inc. MN’s holdings in Arista Networks were worth $211,422,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Benjamin Edwards Inc. acquired a new stake in Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC bought a new position in Arista Networks during the second quarter worth about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
Arista Networks Stock Down 1.6 %
Shares of ANET opened at $380.26 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $395.82. The stock has a market capitalization of $119.16 billion, a P/E ratio of 52.96, a P/E/G ratio of 3.04 and a beta of 1.07. The company has a 50 day moving average of $345.69 and a 200-day moving average of $320.40.
Insider Activity at Arista Networks
In other Arista Networks news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,361 shares of company stock valued at $29,349,123. Insiders own 3.54% of the company’s stock.
Wall Street Analysts Forecast Growth
ANET has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research note on Friday, September 13th. Jefferies Financial Group increased 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. Citigroup boosted their price target on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.25.
Check Out Our Latest Stock Analysis on ANET
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.
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