Arista Networks, Inc. (NYSE:ANET) Shares Bought by Lido Advisors LLC

Lido Advisors LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 20.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,135 shares of the technology company’s stock after acquiring an additional 1,889 shares during the quarter. Lido Advisors LLC’s holdings in Arista Networks were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sheets Smith Wealth Management acquired a new stake in shares of Arista Networks in the 1st quarter valued at approximately $304,000. RFP Financial Group LLC increased its stake in Arista Networks by 169.2% in the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Hollencrest Capital Management purchased a new position in Arista Networks in the 1st quarter valued at approximately $30,000. TFC Financial Management Inc. increased its stake in Arista Networks by 131.0% in the 1st quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock valued at $33,000 after purchasing an additional 110 shares in the last quarter. Finally, McIlrath & Eck LLC increased its stake in Arista Networks by 139.6% in the 1st quarter. McIlrath & Eck LLC now owns 254 shares of the technology company’s stock valued at $43,000 after purchasing an additional 148 shares in the last quarter. 67.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 1,040 shares of Arista Networks stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $184.52, for a total value of $191,900.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $184.52, for a total transaction of $191,900.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 3,500 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $192.48, for a total value of $673,680.00. Following the transaction, the senior vice president now owns 216,100 shares in the company, valued at approximately $41,594,928. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,264 shares of company stock worth $31,208,692. 18.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ANET. BNP Paribas began coverage on Arista Networks in a research report on Thursday, July 20th. They set an “outperform” rating and a $210.00 price target for the company. Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $185.00 to $220.00 in a research report on Tuesday, October 31st. Bank of America raised their price target on Arista Networks from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. The Goldman Sachs Group raised their price target on Arista Networks from $223.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Finally, JMP Securities raised their price target on Arista Networks from $200.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.72.

Arista Networks Trading Down 0.7 %

Shares of Arista Networks stock opened at $213.74 on Thursday. Arista Networks, Inc. has a twelve month low of $107.57 and a twelve month high of $218.36. The stock has a market capitalization of $66.49 billion, a P/E ratio of 35.62, a PEG ratio of 1.79 and a beta of 1.12. The business’s fifty day moving average price is $192.78 and its 200 day moving average price is $174.37.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.