Arista Networks, Inc. (NYSE:ANET) is BNC Wealth Management LLC’s 7th Largest Position

BNC Wealth Management LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,782 shares of the technology company’s stock after buying an additional 863 shares during the quarter. Arista Networks comprises approximately 3.1% of BNC Wealth Management LLC’s holdings, making the stock its 7th largest position. BNC Wealth Management LLC’s holdings in Arista Networks were worth $8,360,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ANET. UniSuper Management Pty Ltd raised its stake in Arista Networks by 20.3% during the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after purchasing an additional 6,133 shares in the last quarter. M&G Plc purchased a new position in Arista Networks during the first quarter worth $3,238,000. GW Henssler & Associates Ltd. increased its position in Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares during the last quarter. Deepwater Asset Management LLC bought a new position in Arista Networks during the second quarter valued at $15,084,000. Finally, Sumitomo Life Insurance Co. raised its stake in shares of Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after acquiring an additional 3,711 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 4.4 %

Shares of Arista Networks stock opened at $422.85 on Thursday. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $424.01. The firm’s 50 day simple moving average is $379.96 and its two-hundred day simple moving average is $342.48. The firm has a market capitalization of $132.84 billion, a price-to-earnings ratio of 54.84, a PEG ratio of 3.47 and a beta of 1.08.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 17,752 shares of the 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 transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. This 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 58,346 shares of company stock worth $21,614,232 over the last three months. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ANET. Barclays lifted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities increased their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, UBS Group increased their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $373.88.

Arista Networks Company 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.