Janney Montgomery Scott LLC Has $17.69 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Janney Montgomery Scott LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,090 shares of the technology company’s stock after buying an additional 3,706 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Arista Networks were worth $17,690,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GQG Partners LLC bought a new stake in shares of Arista Networks in the 1st quarter worth $881,848,000. Swedbank AB bought a new stake in Arista Networks in the 1st quarter worth about $521,767,000. Ameriprise Financial Inc. increased its stake in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after buying an additional 872,919 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after buying an additional 503,597 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Barclays increased their price target on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. KeyCorp lifted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $373.88.

Arista Networks Stock Up 2.6 %

ANET stock opened at $405.28 on Wednesday. The stock has a 50-day simple moving average of $378.33 and a two-hundred day simple moving average of $341.91. Arista Networks, Inc. has a twelve month low of $203.19 and a twelve month high of $422.73. The firm has a market capitalization of $127.32 billion, a PE ratio of 52.57, a PEG ratio of 3.47 and a beta of 1.08.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 1,592 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the transaction, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at $65,226,030. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the completion of the sale, the senior vice president now owns 186,600 shares in the company, valued at approximately $65,226,030. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $393.18, for a total transaction of $786,360.00. Following the completion of the transaction, the director now owns 44,946 shares in the company, valued at approximately $17,671,868.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,514 shares of company stock worth $21,283,604. 3.54% of the stock is owned by company insiders.

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.