Garrison Asset Management LLC Has $7.84 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Garrison Asset Management LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,431 shares of the technology company’s stock after selling 1,844 shares during the period. Arista Networks makes up approximately 4.0% of Garrison Asset Management LLC’s holdings, making the stock its 2nd largest holding. Garrison Asset Management LLC’s holdings in Arista Networks were worth $7,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UniSuper Management Pty Ltd grew its stake in Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after purchasing an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Arista Networks during the first quarter valued at approximately $1,405,000. M&G Plc bought a new position in shares of Arista Networks in the 1st quarter worth $3,238,000. Nordea Investment Management AB boosted its position in Arista Networks by 32.5% during the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares in the last quarter. Finally, GW Henssler & Associates Ltd. grew its stake in Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock traded up $1.42 during trading on Monday, hitting $395.59. 129,133 shares of the company traded hands, compared to its average volume of 2,190,883. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73. The stock’s 50-day simple moving average is $376.13 and its 200 day simple moving average is $339.82. The company has a market cap of $124.27 billion, a PE ratio of 51.31, a P/E/G ratio of 3.40 and a beta of 1.08.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. KeyCorp raised their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI boosted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Jefferies Financial Group increased their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities raised their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Piper Sandler upped their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $373.88.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John F. Mccool sold 580 shares of Arista Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total value of $225,254.60. Following the sale, the insider now owns 72 shares of the company’s stock, valued at approximately $27,962.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the transaction, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. 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 valued at $20,099,338 in the last three months. 3.54% of the stock is currently owned by corporate insiders.

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.