Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management increased its stake in Arista Networks, Inc. (NYSE:ANET) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 799 shares of the technology company’s stock after acquiring an additional 42 shares during the period. Financial Advocates Investment Management’s holdings in Arista Networks were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks during the second quarter worth about $27,000. Byrne Asset Management LLC purchased a new stake in shares of Arista Networks during the second quarter worth approximately $33,000. Sugarloaf Wealth Management LLC acquired a new stake in Arista Networks in the second quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Arista Networks in the second quarter valued at approximately $35,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now owns 2,726 shares in the company, valued at $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock worth $20,099,338 over the last ninety days. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

NYSE ANET opened at $394.17 on Monday. The business’s 50-day simple moving average is $376.13 and its 200-day simple moving average is $339.82. The firm has a market capitalization of $123.83 billion, a P/E ratio of 51.12, a P/E/G ratio of 3.40 and a beta of 1.08. Arista Networks, Inc. has a 1-year low of $203.19 and a 1-year high of $422.73.

Analysts Set New Price Targets

A number of brokerages have commented on ANET. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler raised their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Company upped their price objective on Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Arista Networks Company 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.