Beacon Financial Advisory LLC Increases Position in Arista Networks, Inc. (NYSE:ANET)

Beacon Financial Advisory LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 640 shares of the technology company’s stock after purchasing an additional 30 shares during the period. Beacon Financial Advisory LLC’s holdings in Arista Networks were worth $246,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Financial Counselors Inc. bought a new stake in shares of Arista Networks in the first quarter worth $215,000. GSA Capital Partners LLP increased its position in shares of Arista Networks by 86.8% in the 1st quarter. GSA Capital Partners LLP now owns 2,968 shares of the technology company’s stock worth $861,000 after purchasing an additional 1,379 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Arista Networks in the 1st quarter valued at about $317,000. Empirical Finance LLC lifted its position in shares of Arista Networks by 3.8% during the first quarter. Empirical Finance LLC now owns 8,367 shares of the technology company’s stock worth $2,426,000 after purchasing an additional 307 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in Arista Networks by 134.2% in the first quarter. Quantbot Technologies LP now owns 9,658 shares of the technology company’s stock worth $2,801,000 after purchasing an additional 5,534 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 4.4 %

Arista Networks stock opened at $422.85 on Thursday. Arista Networks, Inc. has a 52 week low of $203.19 and a 52 week high of $424.01. The stock 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. The company’s 50-day moving average price is $379.96 and its two-hundred day moving average price is $342.48.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 1,592 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the completion of the transaction, the senior vice president now owns 186,600 shares of the company’s stock, valued at $65,226,030. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $397.39, for a total transaction of $330,628.48. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $7,026,252.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 1,592 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the sale, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at approximately $65,226,030. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,346 shares of company stock worth $21,614,232 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ANET shares. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. 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 research note on Wednesday, July 31st. Rosenblatt Securities raised their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Citigroup raised their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.