Financial Advocates Investment Management Acquires 42 Shares of Arista Networks, Inc. (NYSE:ANET)

Financial Advocates Investment Management grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 799 shares of the technology company’s stock after purchasing an additional 42 shares during the period. Financial Advocates Investment Management’s holdings in Arista Networks were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group upped their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Evercore ISI increased their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lifted their target price on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $883,278.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,522 shares of company stock valued at $20,099,338 in the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

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

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.