TrueWealth Advisors LLC Has $444,000 Position in Arista Networks, Inc. (NYSE:ANET)

TrueWealth Advisors LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 33.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157 shares of the technology company’s stock after buying an additional 293 shares during the quarter. TrueWealth Advisors LLC’s holdings in Arista Networks were worth $444,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. First Affirmative Financial Network lifted its stake in Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the last quarter. FCG Investment Co boosted its holdings in shares of Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares in the last quarter. Everpar Advisors LLC boosted its holdings in shares of Arista Networks by 1.5% during the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after acquiring an additional 29 shares in the last quarter. HM Payson & Co. boosted its holdings in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Arista Networks by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group lifted their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Citigroup lifted their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays lifted their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their target price on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 1,689 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $58,665,728. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Kenneth Duda sold 1,689 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $58,665,728. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 17,752 shares of the company’s 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 transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,522 shares of company stock worth $20,099,338 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET traded up $7.73 during midday trading on Friday, reaching $394.17. The company’s stock had a trading volume of 1,313,901 shares, compared to its average volume of 2,200,594. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $422.73. The firm has a 50 day moving average price of $376.13 and a 200-day moving average price of $339.26. The stock has a market capitalization of $123.83 billion, a P/E ratio of 51.12, a PEG ratio of 3.49 and a beta of 1.07.

Arista Networks Profile

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.