Arista Networks, Inc. (NYSE:ANET) Holdings Boosted by BNC Wealth Management LLC

BNC Wealth Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,782 shares of the technology company’s stock after buying an additional 863 shares during the period. Arista Networks accounts for about 3.1% of BNC Wealth Management LLC’s portfolio, making the stock its 7th largest holding. BNC Wealth Management LLC’s holdings in Arista Networks were worth $8,360,000 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 company. GQG Partners LLC acquired a new position in Arista Networks in the first quarter valued at about $881,848,000. Legal & General Group Plc boosted its position in shares of Arista Networks by 0.9% during the 2nd 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 period. Swedbank AB acquired a new stake in shares of Arista Networks in the first quarter valued at $521,767,000. Ameriprise Financial Inc. lifted its position in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Arista Networks by 18.7% during 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 in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related 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 transaction, 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 SEC, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. 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 through the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,346 shares of company stock worth $21,614,232 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock opened at $422.85 on Thursday. Arista Networks, Inc. has a 1-year low of $203.19 and a 1-year high of $424.01. The stock’s 50 day moving average price is $379.96 and its 200 day moving average price is $342.48. The company has a market cap of $132.84 billion, a PE ratio of 54.84, a price-to-earnings-growth ratio of 3.47 and a beta of 1.08.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays raised their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average 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.