Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Bogart Wealth LLC

Bogart Wealth LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 328 shares of the technology company’s stock after acquiring an additional 246 shares during the period. Bogart Wealth LLC’s holdings in Arista Networks were worth $36,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of Arista Networks in the third quarter valued at $44,000. HM Payson & Co. boosted its holdings in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC boosted its holdings in Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC boosted its holdings in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after purchasing an additional 35 shares during the period. Finally, Transcendent Capital Group LLC boosted its holdings in Arista Networks by 75.0% in the third quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after purchasing an additional 75 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Arista Networks stock opened at $106.64 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The company has a market capitalization of $134.35 billion, a P/E ratio of 51.27, a PEG ratio of 3.10 and a beta of 1.09. The stock has a 50-day simple moving average of $113.94 and a 200-day simple moving average of $100.90.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total value of $625,013.05. Following the transaction, the insider now owns 288 shares in the company, valued at $28,391.76. The trade was a 95.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the transaction, the chief executive officer now owns 70,724 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 335,832 shares of company stock worth $37,787,297 in the last quarter. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ANET. The Goldman Sachs Group lifted their target price on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Barclays decreased their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Morgan Stanley lifted their price target on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.59.

Arista Networks Profile

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.