Quadrant Capital Group LLC Has $386,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Quadrant Capital Group LLC decreased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,380 shares of the technology company’s stock after selling 158 shares during the quarter. Quadrant Capital Group LLC’s holdings in Arista Networks were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. RFP Financial Group LLC lifted its holdings in shares of Arista Networks by 169.2% in the 2nd quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Arista Networks in the 1st quarter worth $30,000. TFC Financial Management Inc. lifted its holdings in shares of Arista Networks by 131.0% in the 1st quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock worth $33,000 after purchasing an additional 110 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Arista Networks by 139.6% in the 1st quarter. McIlrath & Eck LLC now owns 254 shares of the technology company’s stock worth $43,000 after purchasing an additional 148 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Arista Networks in the 4th quarter worth $43,000. Institutional investors and hedge funds own 67.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 284 shares of Arista Networks stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $191.65, for a total value of $54,428.60. Following the completion of the sale, the director now owns 2,743 shares of the company’s stock, valued at approximately $525,695.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 16,000 shares of Arista Networks stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $187.11, for a total transaction of $2,993,760.00. Following the completion of the transaction, the chief executive officer now owns 1,744,200 shares of the company’s stock, valued at approximately $326,357,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 284 shares of Arista Networks stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $191.65, for a total value of $54,428.60. Following the transaction, the director now directly owns 2,743 shares of the company’s stock, valued at approximately $525,695.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,264 shares of company stock valued at $35,548,692. 18.99% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of ANET opened at $214.63 on Friday. The business has a 50-day moving average of $193.50 and a 200 day moving average of $175.29. Arista Networks, Inc. has a fifty-two week low of $107.57 and a fifty-two week high of $218.36. The firm has a market cap of $66.77 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ANET. Citigroup upgraded Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $177.00 to $220.00 in a research note on Thursday, August 31st. Barclays raised their price objective on Arista Networks from $179.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. The Goldman Sachs Group raised their price objective on Arista Networks from $223.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Rosenblatt Securities raised their price objective on Arista Networks from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Finally, Morgan Stanley upgraded Arista Networks from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $185.00 to $220.00 in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $214.72.

About Arista Networks

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.