Andra AP fonden raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 87.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the technology company’s stock after purchasing an additional 5,600 shares during the period. Andra AP fonden’s holdings in Arista Networks were worth $2,275,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares in the last quarter. LS Investment Advisors LLC acquired a new position in Arista Networks during the second quarter valued at approximately $119,000. D.A. Davidson & CO. raised its position in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Arista Networks during the second quarter valued at approximately $202,000. Finally, Financial Architects Inc raised its position in Arista Networks by 17.9% during the second quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock valued at $222,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 59.43% of the company’s stock.
In related news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $176.09, for a total value of $352,180.00. Following the sale, the senior vice president now owns 13,002 shares in the company, valued at approximately $2,289,522.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ita M. Brennan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $175.00, for a total transaction of $875,000.00. Following the completion of the sale, the insider now owns 21,079 shares in the company, valued at approximately $3,688,825. The disclosure for this sale can be found here. Insiders have sold 129,342 shares of company stock worth $26,256,265 in the last quarter. Company insiders own 28.09% of the company’s stock.
Several research analysts have commented on ANET shares. JMP Securities boosted their price objective on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research report on Thursday, October 26th. Deutsche Bank AG reaffirmed a “buy” rating and set a $210.00 target price (up previously from $185.00) on shares of Arista Networks in a research note on Monday, October 9th. BMO Capital Markets boosted their target price on shares of Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Finally, Zacks Investment Research cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Fourteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Arista Networks presently has an average rating of “Buy” and an average price target of $183.07.
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Arista Networks, Inc. (ANET) opened at $221.05 on Friday. Arista Networks, Inc. has a fifty-two week low of $84.73 and a fifty-two week high of $221.67. The firm has a market cap of $16,158.98, a PE ratio of 53.14, a PEG ratio of 2.04 and a beta of 1.31. The company has a current ratio of 3.66, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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