Umpqua Bank Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

Umpqua Bank bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 693 shares of the technology company’s stock, valued at approximately $266,000.

Several other hedge funds also recently added to or reduced their stakes in ANET. Catalina Capital Group LLC increased its stake in Arista Networks by 9.2% in the 3rd quarter. Catalina Capital Group LLC now owns 1,016 shares of the technology company’s stock worth $390,000 after buying an additional 86 shares during the period. Beacon Financial Advisory LLC boosted its stake in shares of Arista Networks by 4.9% during the third quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after purchasing an additional 30 shares in the last quarter. MinichMacGregor Wealth Management LLC purchased a new position in Arista Networks during the third quarter valued at approximately $1,457,000. Pittenger & Anderson Inc. raised its stake in Arista Networks by 6.6% in the third quarter. Pittenger & Anderson Inc. now owns 8,634 shares of the technology company’s stock worth $3,314,000 after buying an additional 538 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Arista Networks by 7.7% during the 3rd quarter. Amalgamated Bank now owns 58,889 shares of the technology company’s stock valued at $22,603,000 after acquiring an additional 4,202 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Shares of ANET traded up $16.36 during midday trading on Wednesday, hitting $421.48. 215,416 shares of the stock were exchanged, compared to its average volume of 2,181,609. The firm has a market cap of $132.41 billion, a P/E ratio of 52.57, a P/E/G ratio of 3.47 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $203.19 and a 52-week high of $423.87. The stock has a fifty day simple moving average of $378.33 and a 200 day simple moving average of $341.91.

Analysts Set New Price Targets

Several brokerages have weighed in on ANET. Rosenblatt Securities increased their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. KeyCorp upped their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley increased their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Evercore ISI lifted their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the business’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 completion of the transaction, the director now owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Kelly Bodnar Battles sold 373 shares of Arista Networks 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 sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. 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 accessible through this link. Also, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $6,264,201.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,514 shares of company stock valued at $21,283,604 in the last three months. 3.54% of the stock is owned by corporate insiders.

Arista Networks Company 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.