1,660 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Advisor Resource Council

Advisor Resource Council bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, Holdings Channel reports. The firm bought 1,660 shares of the technology company’s stock, valued at approximately $637,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graypoint LLC grew its position in shares of Arista Networks by 5.8% in the third quarter. Graypoint LLC now owns 1,974 shares of the technology company’s stock valued at $758,000 after purchasing an additional 109 shares during the last quarter. D.B. Root & Company LLC acquired a new stake in Arista Networks during the third quarter worth approximately $216,000. Concurrent Investment Advisors LLC boosted its position in Arista Networks by 33.1% during the third quarter. Concurrent Investment Advisors LLC now owns 2,787 shares of the technology company’s stock worth $1,070,000 after acquiring an additional 693 shares during the last quarter. Umpqua Bank acquired a new stake in Arista Networks during the third quarter worth approximately $266,000. Finally, Catalina Capital Group LLC boosted its position in Arista Networks by 9.2% during the third quarter. Catalina Capital Group LLC now owns 1,016 shares of the technology company’s stock worth $390,000 after acquiring an additional 86 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 directly owns 2,565 shares of the company’s stock, valued at $915,038.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This trade 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 58,346 shares of company stock valued at $21,614,232 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 4.4 %

ANET opened at $422.85 on Thursday. The company has a fifty day simple moving average of $379.96 and a 200 day simple moving average of $342.48. The firm has a market cap of $132.84 billion, a price-to-earnings ratio of 54.84, a PEG ratio of 3.47 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $203.19 and a twelve month high of $424.01.

Analyst Ratings Changes

A number of analysts recently issued reports on ANET shares. The Goldman Sachs Group raised their target price on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note 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 note on Wednesday, July 31st. Finally, Barclays increased their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

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.