Advisor Resource Council Takes Position in Arista Networks, Inc. (NYSE:ANET)

Advisor Resource Council bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,660 shares of the technology company’s stock, valued at approximately $637,000.

Other institutional investors have also recently modified their holdings of the company. GQG Partners LLC acquired a new stake in Arista Networks in the 1st quarter worth about $881,848,000. Swedbank AB purchased a new position in Arista Networks in the 1st quarter worth approximately $521,767,000. Ameriprise Financial Inc. lifted its stake in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Arista Networks by 39,841.1% in the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the sale, the senior vice president now directly owns 182,600 shares of the company’s stock, valued at $58,665,728. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $397.39, for a total transaction of $330,628.48. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $7,026,252.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,346 shares of company stock worth $21,614,232. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 4.4 %

Shares of ANET stock opened at $422.85 on Thursday. The firm has a fifty day moving average price of $379.96 and a 200 day moving average price of $342.48. The company has a market cap of $132.84 billion, a P/E ratio of 54.84, a PEG ratio of 3.47 and a beta of 1.08. Arista Networks, Inc. has a 12 month low of $203.19 and a 12 month high of $424.01.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ANET. Evercore ISI raised their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Barclays lifted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Jefferies Financial Group lifted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

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.