Geneva Partners LLC Trims Stock Position in Arista Networks, Inc. (NYSE:ANET)

Geneva Partners LLC decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 50.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,112 shares of the technology company’s stock after selling 7,231 shares during the quarter. Arista Networks accounts for about 1.2% of Geneva Partners LLC’s investment portfolio, making the stock its 28th largest position. Geneva Partners LLC’s holdings in Arista Networks were worth $2,730,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its position in Arista Networks by 7.7% during the third quarter. Amalgamated Bank now owns 58,889 shares of the technology company’s stock valued at $22,603,000 after purchasing an additional 4,202 shares in the last quarter. United Advisor Group LLC bought a new position in shares of Arista Networks in the third quarter worth about $501,000. James J. Burns & Company LLC purchased a new position in shares of Arista Networks during the 3rd quarter valued at about $530,000. Moloney Securities Asset Management LLC bought a new position in shares of Arista Networks during the 3rd quarter valued at approximately $438,000. Finally, Catalyst Capital Advisors LLC increased its holdings in Arista Networks by 57.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,160 shares of the technology company’s stock worth $829,000 after acquiring an additional 785 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Trading Up 0.2 %

Shares of NYSE ANET opened at $394.88 on Tuesday. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $422.73. The firm’s 50-day moving average price is $377.14 and its 200-day moving average price is $340.79. The stock has a market capitalization of $124.05 billion, a price-to-earnings ratio of 51.22, a P/E/G ratio of 3.47 and a beta of 1.08.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the sale, the director now owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $20,029,349 over the last ninety days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. KeyCorp upped their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group upped their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Piper Sandler lifted their target price on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.88.

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.