ProShare Advisors LLC Has $33.78 Million Holdings in Arista Networks, Inc. $ANET

ProShare Advisors LLC trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,855 shares of the technology company’s stock after selling 4,342 shares during the period. ProShare Advisors LLC’s holdings in Arista Networks were worth $33,784,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ANET. AdvisorNet Financial Inc grew its holdings in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Richardson Financial Services Inc. lifted its position in Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares in the last quarter. Bare Financial Services Inc lifted its position in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc acquired a new stake in Arista Networks in the 3rd quarter valued at about $41,000. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the transaction, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,464 shares of company stock valued at $27,553,548 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Arista Networks stock opened at $143.71 on Wednesday. The firm has a market capitalization of $180.97 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 2.39 and a beta of 1.42. The company’s 50 day simple moving average is $132.39 and its 200 day simple moving average is $136.68. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities increased their price target on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Morgan Stanley lowered their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Finally, UBS Group reiterated a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a report on Wednesday, December 3rd. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.00.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.