James J. Burns & Company LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

James J. Burns & Company LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,380 shares of the technology company’s stock, valued at approximately $530,000.

Several other institutional investors have also bought and sold shares of ANET. GQG Partners LLC purchased a new position in Arista Networks during the 1st quarter worth $881,848,000. Legal & General Group Plc boosted its holdings in Arista Networks by 0.9% during the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares during the last quarter. Swedbank AB bought a new stake in Arista Networks in the 1st quarter worth about $521,767,000. Ameriprise Financial Inc. lifted its position in shares of Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Arista Networks by 18.7% in the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after buying an additional 148,759 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were 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 of the company’s stock, valued at approximately $869,084.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares of the company’s stock, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $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 worth $20,029,349 in the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Trading Up 0.2 %

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

Analysts Set New Price Targets

A number of brokerages recently commented on ANET. Barclays increased their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. UBS Group increased their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. KeyCorp lifted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company increased their target price on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target 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.