06 Feb Pres. Jon Cartu Publishes – Creative Planning Purchases 547 Shares of Arista Networks…
Creative Planning grew its position in shares of Arista Networks Inc (NYSE:ANET) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,944 shares of the technology company’s stock after buying an additional 547 shares during the period. Creative Planning’s holdings in Arista Networks were worth $2,023,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Man Group plc increased its position in shares of Arista Networks by 42.0% in the third quarter. Man Group plc now owns 3,064 shares of the technology company’s stock worth $732,000 after purchasing an additional 907 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in Arista Networks in the third quarter valued at about $8,921,000. National Pension Service boosted its stake in Arista Networks by 5.5% in the third quarter. National Pension Service now owns 75,963 shares of the technology company’s stock valued at $18,149,000 after buying an additional 3,964 shares in the last quarter. Lucia Wealth Services LLC acquired a new stake in Arista Networks in the third quarter valued at about $670,000. Finally, Riggs Asset Managment Co. Inc. acquired a new stake in Arista Networks in the third quarter valued at about $911,000. Hedge funds and other institutional investors own 59.60% of the company’s stock.
In other news, Director Ann Mather sold 329 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $194.00, for a total transaction of $63,826.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Scheinman sold 9,333 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $220.06, for a total value of $2,053,819.98. Following the transaction, the director now owns 15,606 shares of the company’s stock, valued at $3,434,256.36. The disclosure for this sale can be found here. Insiders have sold 50,646 shares of company stock worth $10,202,831 over the last three months. Insiders own 23.83% of the company’s stock.
Shares of ANET stock opened at $229.91 on Thursday. The business’s 50-day moving average price is $214.91 and its 200-day moving average price is $222.91. Arista Networks Inc has a 12 month low of $173.31 and a 12 month high of $331.27. The firm has a market capitalization of $17.67 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.95 and a beta of 1.52. The company has a current ratio of 5.91, a quick ratio of 5.47 and a debt-to-equity ratio of 0.03.
Several analysts recently weighed in on ANET shares. Goldman Sachs Group lowered Arista Networks from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $290.00 to $245.00 in a research note on Friday, November 1st. Wolfe Research reduced their price objective on Arista Networks from $270.00 to $200.00 and set a “peer perform” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered Arista Networks from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $290.00 to $180.00 in a research note on Friday, November 1st. Needham & Company LLC lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, ValuEngine raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $228.12.
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.
Further Reading: Buy-Side Analysts
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