Arista Networks, Inc. (NYSE:ANET) Shares Bought by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 722 shares of the technology company’s stock after buying an additional 57 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Arista Networks were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Beacon Capital Management LLC lifted its holdings in shares of Arista Networks by 500.0% in the 2nd 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 last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks during the 2nd quarter valued at $27,000. Byrne Asset Management LLC acquired a new position in shares of Arista Networks in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks during the second quarter worth $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kelly Bodnar Battles sold 372 shares of the business’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 transaction, the director now directly owns 2,565 shares in the company, valued at approximately $915,038.10. 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 can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of the firm’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 sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock worth $20,029,349 over the last three months. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ANET. Citigroup increased their target price on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler upped their price target on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. KeyCorp lifted their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Evercore ISI increased their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, UBS Group upped their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $373.88.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $394.88 on Tuesday. Arista Networks, Inc. has a 52-week low of $203.19 and a 52-week high of $422.73. The firm has a market capitalization of $124.05 billion, a price-to-earnings ratio of 51.22, a PEG ratio of 3.40 and a beta of 1.08. The stock has a 50 day moving average price of $377.14 and a 200 day moving average price of $340.79.

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.