Oakbrook Investments LLC Increases Stock Holdings in Arista Networks Inc (NYSE:ANET)
Oakbrook Investments LLC raised its stake in Arista Networks Inc (NYSE:ANET) by 26.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,750 shares of the technology company’s stock after acquiring an additional 1,200 shares during the period. Oakbrook Investments LLC’s holdings in Arista Networks were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Thornburg Investment Management Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at approximately $18,463,000. Swedbank lifted its holdings in shares of Arista Networks by 56.2% in the 2nd quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after buying an additional 272,722 shares during the period. Lido Advisors LLC acquired a new stake in shares of Arista Networks in the 1st quarter valued at approximately $483,000. Norges Bank acquired a new stake in shares of Arista Networks in the 4th quarter valued at approximately $116,281,000. Finally, DE Burlo Group Inc. lifted its holdings in shares of Arista Networks by 9.1% in the 1st quarter. DE Burlo Group Inc. now owns 17,420 shares of the technology company’s stock valued at $5,478,000 after buying an additional 1,450 shares during the period. Institutional investors own 57.96% of the company’s stock.
ANET stock traded up $5.57 during midday trading on Friday, hitting $272.98. 677,520 shares of the stock were exchanged, compared to its average volume of 684,532. The stock’s 50-day moving average is $261.44. The stock has a market capitalization of $20.49 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 1.69 and a beta of 1.56. 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 debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34.
Several analysts have recently commented on the company. ValuEngine raised ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. MKM Partners raised their price target on Arista Networks to $295.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Wolfe Research raised Edison International from a “peer perform” rating to an “outperform” rating in a report on Monday, May 6th. Needham & Company LLC cut Silicom from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Finally, Macquarie set a $325.00 price target on Arista Networks and gave the company a “buy” rating in a report on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $311.46.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $314.93, for a total transaction of $629,860.00. Following the completion of the transaction, the senior vice president now owns 14,341 shares of the company’s stock, valued at $4,516,411.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anshul Sadana sold 4,129 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $314.28, for a total value of $1,297,662.12. Following the transaction, the chief operating officer now directly owns 1,893 shares of the company’s stock, valued at approximately $594,932.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,307 shares of company stock valued at $56,092,192. 23.83% of the stock is currently owned by insiders.
About Arista Networks
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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