US Bancorp DE Has $16.97 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

US Bancorp DE trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,204 shares of the technology company’s stock after selling 169 shares during the quarter. US Bancorp DE’s holdings in Arista Networks were worth $16,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ANET. GQG Partners LLC bought a new position in shares of Arista Networks during the 1st quarter worth $881,848,000. Swedbank AB purchased a new position in shares of Arista Networks during the first quarter worth about $521,767,000. Ameriprise Financial Inc. increased its holdings in shares of Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares during the last quarter. International Assets Investment Management LLC raised its position in Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after purchasing an additional 872,919 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after buying an additional 503,597 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now directly owns 2,192 shares of the company’s stock, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the sale, the director now directly owns 2,192 shares in the company, valued at approximately $869,084.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,522 shares of company stock worth $20,099,338 in the last ninety days. 3.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group increased their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, KeyCorp lifted their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $373.88.

Arista Networks Stock Up 2.0 %

Shares of NYSE ANET opened at $394.17 on Friday. The stock has a market capitalization of $123.83 billion, a price-to-earnings ratio of 51.12, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07. Arista Networks, Inc. has a 52 week low of $203.19 and a 52 week high of $422.73. The firm has a 50-day simple moving average of $376.13 and a 200-day simple moving average of $339.26.

Arista Networks Company 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.