Arista Networks, Inc. (NYSE:ANET – Get Free Report) Director Yvonne Wassenaar sold 223 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total transaction of $70,543.82. Following the sale, the director now directly owns 2,976 shares in the company, valued at $941,427.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Arista Networks Trading Up 1.7 %
Shares of Arista Networks stock opened at $306.48 on Friday. Arista Networks, Inc. has a 52 week low of $148.32 and a 52 week high of $329.04. The company’s 50-day moving average price is $287.34 and its two-hundred day moving average price is $261.09. The stock has a market cap of $96.04 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.13.
Arista Networks announced that its Board of Directors has authorized a share buyback program on Tuesday, May 7th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the technology company to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Analyst Ratings Changes
View Our Latest Research Report on Arista Networks
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the period. FMR LLC raised its holdings in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the period. Capital World Investors lifted its stake in Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after acquiring an additional 25,196 shares in the last quarter. Finally, GQG Partners LLC acquired a new stake in shares of Arista Networks during the first quarter valued at approximately $881,848,000. Institutional investors and hedge funds own 82.47% of the company’s stock.
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.
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