Arista Networks, Inc. (NYSE:ANET) Stake Lifted by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 8.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 722 shares of the technology company’s stock after purchasing an additional 57 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Arista Networks were worth $278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in shares of Arista Networks by 25.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,089 shares of the technology company’s stock valued at $12,205,000 after purchasing an additional 8,656 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Arista Networks by 32.5% in 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 during the last quarter. Financial Counselors Inc. bought a new position in shares of Arista Networks during the first quarter worth approximately $215,000. GSA Capital Partners LLP grew its stake in Arista Networks by 86.8% during the first quarter. GSA Capital Partners LLP now owns 2,968 shares of the technology company’s stock worth $861,000 after buying an additional 1,379 shares in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in Arista Networks in the first quarter valued at about $317,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 372 shares of Arista Networks 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 sale, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 2,565 shares in the company, valued at $915,038.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,306 shares of company stock worth $20,029,349. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Up 0.2 %

Shares of NYSE ANET opened at $394.88 on Tuesday. Arista Networks, Inc. has a 52 week low of $203.19 and a 52 week high of $422.73. The company has a market cap of $124.05 billion, a price-to-earnings ratio of 51.22, a PEG ratio of 3.40 and a beta of 1.08. The firm’s fifty day moving average is $377.14 and its 200 day moving average is $340.79.

Analyst Ratings Changes

ANET has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group boosted their price objective 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 research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has an average 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.