NewEdge Wealth LLC Takes $2.53 Million Position in Arista Networks, Inc. (NYSE:ANET)

NewEdge Wealth LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,737 shares of the technology company’s stock, valued at approximately $2,527,000.

A number of other large investors have also made changes to their positions in ANET. Vanguard Group Inc. boosted its stake in Arista Networks by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock worth $3,511,828,000 after buying an additional 353,253 shares during the last quarter. State Street Corp boosted its stake in Arista Networks by 2.9% in the 2nd quarter. State Street Corp now owns 10,280,987 shares of the technology company’s stock worth $1,666,137,000 after buying an additional 289,064 shares during the last quarter. Capital World Investors boosted its stake in Arista Networks by 68.8% in the 2nd quarter. Capital World Investors now owns 9,819,327 shares of the technology company’s stock worth $1,591,320,000 after buying an additional 4,002,359 shares during the last quarter. Morgan Stanley boosted its stake in Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after buying an additional 3,432,952 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Arista Networks by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after purchasing an additional 91,829 shares in the last quarter. Institutional investors and hedge funds own 67.13% of the company’s stock.

Arista Networks Trading Down 0.0 %

Shares of ANET opened at $272.97 on Tuesday. The firm has a market cap of $84.92 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 2.15 and a beta of 1.13. The stock has a 50 day moving average of $241.68 and a 200-day moving average of $208.28. Arista Networks, Inc. has a 52 week low of $129.01 and a 52 week high of $276.99.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $206.27, for a total transaction of $4,125,400.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $669,139.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John F. Mccool sold 2,831 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $215.56, for a total transaction of $610,250.36. Following the completion of the transaction, the insider now owns 144 shares in the company, valued at approximately $31,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $206.27, for a total value of $4,125,400.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $669,139.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,114 shares of company stock worth $47,813,989. 18.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Needham & Company LLC lifted their price objective on Arista Networks from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 10th. JMP Securities lifted their price objective on Arista Networks from $215.00 to $325.00 and gave the company a “market outperform” rating in a research note on Monday. Citigroup lifted their price objective on Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, The Goldman Sachs Group raised their target price on Arista Networks from $223.00 to $248.00 and gave the company a “buy” rating in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.11.

Get Our Latest Stock Analysis on ANET

About Arista Networks

(Free Report)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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