Arista Networks, Inc. (NYSE:ANET) Shares Sold by Trexquant Investment LP

Trexquant Investment LP decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 40.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,881 shares of the technology company’s stock after selling 14,192 shares during the quarter. Trexquant Investment LP’s holdings in Arista Networks were worth $4,918,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sandy Spring Bank boosted its holdings in Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its position in Arista Networks by 1.8% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after buying an additional 40 shares in the last quarter. West Family Investments Inc. increased its position in shares of Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after acquiring an additional 40 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after acquiring an additional 41 shares during the period. Finally, PDS Planning Inc boosted its position in Arista Networks by 3.1% during the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after purchasing an additional 41 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John F. Mccool sold 584 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $281.60, for a total transaction of $164,454.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 584 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $281.60, for a total transaction of $164,454.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 394,836 shares of company stock valued at $115,437,764. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

ANET stock opened at $316.50 on Thursday. Arista Networks, Inc. has a 1-year low of $139.18 and a 1-year high of $329.04. The firm has a fifty day moving average price of $286.42 and a two-hundred day moving average price of $260.16. The firm has a market cap of $99.18 billion, a price-to-earnings ratio of 44.08, a PEG ratio of 2.87 and a beta of 1.13.

Arista Networks announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on ANET shares. Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and raised their price objective for the company from $240.00 to $320.00 in a research report on Friday, May 3rd. Barclays lifted their price objective on shares of Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. UBS Group lifted their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $295.22.

About Arista Networks

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.