Janney Montgomery Scott LLC Purchases 3,706 Shares of Arista Networks, Inc. (NYSE:ANET)

Janney Montgomery Scott LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,090 shares of the technology company’s stock after acquiring an additional 3,706 shares during the period. Janney Montgomery Scott LLC’s holdings in Arista Networks were worth $17,690,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ANET. Princeton Global Asset Management LLC purchased a new stake in shares of Arista Networks in the 3rd quarter valued at $69,000. Chicago Partners Investment Group LLC boosted its position in Arista Networks by 5.8% during the third quarter. Chicago Partners Investment Group LLC now owns 2,639 shares of the technology company’s stock valued at $1,040,000 after buying an additional 144 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Arista Networks by 16.4% during the third quarter. Farther Finance Advisors LLC now owns 2,159 shares of the technology company’s stock valued at $829,000 after buying an additional 304 shares during the last quarter. Weatherly Asset Management L. P. increased its holdings in shares of Arista Networks by 10.9% in the third quarter. Weatherly Asset Management L. P. now owns 19,971 shares of the technology company’s stock worth $7,665,000 after buying an additional 1,965 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its stake in shares of Arista Networks by 64.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 8,532 shares of the technology company’s stock valued at $3,275,000 after acquiring an additional 3,337 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the sale, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the transaction, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at approximately $65,226,030. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,514 shares of company stock worth $21,283,604. 3.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on ANET shares. Piper Sandler boosted their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. UBS Group raised their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI upped their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $373.88.

Arista Networks Price Performance

NYSE:ANET opened at $405.28 on Wednesday. Arista Networks, Inc. has a 1-year low of $203.19 and a 1-year high of $422.73. The company has a market capitalization of $127.32 billion, a PE ratio of 52.57, a P/E/G ratio of 3.47 and a beta of 1.08. The firm’s 50-day moving average price is $378.33 and its 200-day moving average price is $341.91.

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.