Victory Capital Management Inc. Has $19.65 Million Holdings in Arista Networks, Inc. (ANET)

Victory Capital Management Inc. lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 528.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,655 shares of the technology company’s stock after purchasing an additional 87,162 shares during the period. Victory Capital Management Inc. owned about 0.14% of Arista Networks worth $19,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors increased its position in shares of Arista Networks by 2.8% during the second quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock worth $1,135,380,000 after purchasing an additional 209,783 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Arista Networks by 7.1% during the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after purchasing an additional 249,753 shares in the last quarter. BlackRock Inc. increased its position in shares of Arista Networks by 41.1% during the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after purchasing an additional 692,651 shares in the last quarter. Harbour Capital Advisors LLC increased its position in shares of Arista Networks by 13,502.2% during the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after purchasing an additional 1,219,248 shares in the last quarter. Finally, State Street Corp increased its position in shares of Arista Networks by 44.7% during the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares in the last quarter. Institutional investors and hedge funds own 59.43% of the company’s stock.

In related news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the completion of the transaction, the insider now directly owns 86,788 shares in the company, valued at approximately $16,485,380.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ita M. Brennan sold 5,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $175.00, for a total value of $875,000.00. Following the transaction, the insider now owns 21,079 shares of the company’s stock, valued at $3,688,825. The disclosure for this sale can be found here. Insiders have sold a total of 129,342 shares of company stock worth $26,256,265 in the last three months. Corporate insiders own 28.09% of the company’s stock.

A number of analysts have recently commented on the company. Royal Bank Of Canada upgraded Arista Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. KeyCorp reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, November 3rd. UBS AG boosted their price target on Arista Networks from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Cowen and Company restated a “buy” rating and issued a $200.00 price target on shares of Arista Networks in a research report on Friday, November 3rd. Finally, Citigroup Inc. restated a “buy” rating and issued a $220.00 price target (up previously from $215.00) on shares of Arista Networks in a research report on Friday, November 3rd. Fourteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $183.07.

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Shares of Arista Networks, Inc. (NYSE:ANET) opened at $221.05 on Friday. The company has a market capitalization of $16,158.98, a P/E ratio of 53.14, a PEG ratio of 2.04 and a beta of 1.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.60 and a current ratio of 3.66. Arista Networks, Inc. has a 52 week low of $84.73 and a 52 week high of $221.67.

Arista Networks Profile

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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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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