Focus Financial Network Inc. Sells 107 Shares of Arista Networks, Inc. (NYSE:ANET)

Focus Financial Network Inc. reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217 shares of the technology company’s stock after selling 107 shares during the quarter. Focus Financial Network Inc.’s holdings in Arista Networks were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. Beacon Capital Management LLC lifted its holdings in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks during the second quarter valued at $27,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks during the second quarter valued at $33,000. Sugarloaf Wealth Management LLC bought a new position in shares of Arista Networks during the second quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Arista Networks during the second quarter valued at $35,000. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Evercore ISI increased their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, UBS Group increased their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $373.88.

Arista Networks Trading Up 2.0 %

NYSE:ANET opened at $394.17 on Monday. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $422.73. The stock has a 50-day moving average price of $376.13 and a 200 day moving average price of $339.82. The stock has a market capitalization of $123.83 billion, a P/E ratio of 51.12, a P/E/G ratio of 3.40 and a beta of 1.08.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares in the company, valued at $869,084.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s 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 $17,957,783.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,522 shares of company stock worth $20,099,338. 3.54% of the stock is owned by corporate insiders.

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.