Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Amalgamated Bank

Amalgamated Bank lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 7.7% in the 3rd quarter, Holdings Channel reports. The firm owned 58,889 shares of the technology company’s stock after purchasing an additional 4,202 shares during the quarter. Amalgamated Bank’s holdings in Arista Networks were worth $22,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. United Advisor Group LLC acquired a new position in Arista Networks during the third quarter worth about $501,000. James J. Burns & Company LLC purchased a new stake in shares of Arista Networks during the third quarter worth about $530,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Arista Networks during the third quarter worth about $438,000. Catalyst Capital Advisors LLC grew its holdings in shares of Arista Networks by 57.1% during the third quarter. Catalyst Capital Advisors LLC now owns 2,160 shares of the technology company’s stock worth $829,000 after buying an additional 785 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Arista Networks by 8.6% during the third quarter. Hazlett Burt & Watson Inc. now owns 722 shares of the technology company’s stock worth $278,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ANET. 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. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler raised 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. Finally, Rosenblatt Securities raised their target price on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. One research 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’s stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.88.

Arista Networks Stock Performance

Arista Networks stock 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 firm has a market cap of $124.05 billion, a P/E ratio of 51.22, a P/E/G ratio of 3.47 and a beta of 1.08. The business’s fifty day moving average is $377.14 and its two-hundred day moving average is $340.79.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated 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 in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction 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 approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,306 shares of company stock worth $20,029,349. 3.54% of the stock is owned by insiders.

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.