Latitude Advisors LLC Has $364,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Latitude Advisors LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 950 shares of the technology company’s stock after acquiring an additional 58 shares during the period. Latitude Advisors LLC’s holdings in Arista Networks were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ANET. GQG Partners LLC acquired a new stake in Arista Networks during the first quarter worth $881,848,000. Legal & General Group Plc boosted its stake 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 buying an additional 20,278 shares in the last quarter. Swedbank AB acquired a new stake in Arista Networks during the first quarter worth $521,767,000. Ameriprise Financial Inc. boosted its stake in 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 buying an additional 884,703 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Arista Networks by 18.7% during the first 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. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ANET shares. Piper Sandler lifted their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lifted their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Rosenblatt Securities lifted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, UBS Group lifted their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. 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, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $373.88.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares in the company, valued at $883,278.52. This trade represents 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. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents 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, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock worth $20,099,338 over the last three months. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Up 2.0 %

Arista Networks stock opened at $394.17 on Friday. The stock has a 50-day simple moving average of $376.13 and a 200 day simple moving average of $339.26. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $422.73. The stock has a market capitalization of $123.83 billion, a price-to-earnings ratio of 51.12, a P/E/G ratio of 3.49 and a beta of 1.07.

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.