Rehmann Capital Advisory Group grew its stake in Arista Networks Inc (NYSE:ANET) by 56.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 296 shares of the technology company’s stock after acquiring an additional 107 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Arista Networks were worth $93,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of ANET. FTB Advisors Inc. purchased a new position in shares of Arista Networks during the 4th quarter worth $26,000. Lenox Wealth Management Inc. purchased a new position in shares of Arista Networks during the 1st quarter worth $26,000. Kaizen Advisory LLC purchased a new position in shares of Arista Networks during the 4th quarter worth $27,000. Whittier Trust Co. purchased a new position in Arista Networks during the 1st quarter valued at about $44,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Arista Networks by 46.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock valued at $61,000 after acquiring an additional 61 shares during the period. 57.94% of the stock is owned by institutional investors and hedge funds.
ANET traded up $2.36 during trading hours on Friday, hitting $274.26. The company’s stock had a trading volume of 456,730 shares, compared to its average volume of 748,653. Arista Networks Inc has a fifty-two week low of $187.08 and a fifty-two week high of $331.27. The company has a quick ratio of 4.70, a current ratio of 5.34 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 1.74 and a beta of 1.56. The business’s 50-day moving average is $254.20.
Several equities analysts have recently issued reports on ANET shares. Deutsche Bank upgraded Arista Networks from a “sell” rating to a “hold” rating and lifted their price objective for the company from $190.00 to $225.00 in a research note on Tuesday, March 19th. MKM Partners lifted their price target on Arista Networks to $295.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Needham & Company LLC downgraded Silicom from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Nomura upped their target price on PROS from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $32.00 target price on shares of CRH in a research report on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $311.96.
In related news, SVP Kenneth Duda sold 10,874 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $271.29, for a total transaction of $2,950,007.46. Following the completion of the sale, the senior vice president now directly owns 1,971 shares in the company, valued at $534,712.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jayshree Ullal sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $329.03, for a total value of $6,580,600.00. Following the transaction, the insider now owns 10,425 shares in the company, valued at $3,430,137.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,564 shares of company stock valued at $59,940,990. 23.83% of the stock is currently owned by corporate insiders.
Arista Networks Company Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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