United Advisor Group LLC Purchases Shares of 1,304 Arista Networks, Inc. (NYSE:ANET)

United Advisor Group LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,304 shares of the technology company’s stock, valued at approximately $501,000.

Other hedge funds also recently modified their holdings of the company. Beacon Capital Management LLC increased its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC bought a new position in Arista Networks during the 2nd quarter worth $33,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks during the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks in the second quarter valued at about $35,000. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ANET shares. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $373.88.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Kenneth Duda sold 1,689 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the transaction, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares in the company, valued at $869,084.16. The trade was 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 worth $21,283,604 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Up 2.6 %

Shares of NYSE:ANET opened at $405.28 on Wednesday. The stock has a market cap of $127.32 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 12 month low of $203.19 and a 12 month high of $422.73. The company has a 50 day moving average of $378.33 and a 200 day moving average of $341.91.

About Arista Networks

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.