Arista Networks Inc (ANET) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Arista Networks Inc (NYSE:ANET) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,246 shares of the technology company’s stock after selling 2,316 shares during the quarter. Rhumbline Advisers’ holdings in Arista Networks were worth $19,436,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ANET. CENTRAL TRUST Co raised its stake in shares of Arista Networks by 53.3% in the fourth quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock worth $29,000 after purchasing an additional 49 shares during the last quarter. First United Bank Trust raised its position in Arista Networks by 1.4% during the fourth quarter. First United Bank Trust now owns 5,156 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 71 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in Arista Networks by 4.6% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 2,746 shares of the technology company’s stock valued at $580,000 after acquiring an additional 120 shares in the last quarter. Sigma Planning Corp raised its position in Arista Networks by 13.8% during the fourth quarter. Sigma Planning Corp now owns 1,062 shares of the technology company’s stock valued at $224,000 after acquiring an additional 129 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Arista Networks by 13.9% during the fourth quarter. D.A. Davidson & CO. now owns 1,299 shares of the technology company’s stock valued at $274,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 60.35% of the company’s stock.

In related news, insider Anshul Sadana sold 1,197 shares of Arista Networks stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $235.00, for a total transaction of $281,295.00. Following the transaction, the insider now owns 1,414 shares in the company, valued at $332,290. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Marc Taxay sold 5,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $233.53, for a total value of $1,167,650.00. Following the transaction, the senior vice president now owns 16,964 shares in the company, valued at approximately $3,961,602.92. The disclosure for this sale can be found here. Insiders sold 33,441 shares of company stock worth $7,459,121 over the last ninety days. Corporate insiders own 24.95% of the company’s stock.

Several brokerages have commented on ANET. Stifel Nicolaus set a $275.00 price objective on Arista Networks and gave the company a “buy” rating in a report on Friday, November 2nd. BMO Capital Markets raised Arista Networks from a “market perform” rating to an “outperform” rating and set a $279.00 price objective on the stock in a report on Wednesday, October 17th. They noted that the move was a valuation call. Zacks Investment Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $289.00 price objective on the stock in a report on Monday, November 12th. Nomura raised their price objective on Arista Networks from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Finally, MKM Partners raised their price objective on Arista Networks to $275.00 and gave the company a “neutral” rating in a report on Monday, November 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Arista Networks has an average rating of “Buy” and a consensus price target of $291.06.

Shares of NYSE:ANET opened at $226.34 on Monday. The company has a current ratio of 4.51, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $17.07 billion, a PE ratio of 48.68, a PEG ratio of 1.35 and a beta of 1.40. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $313.37.

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Arista Networks Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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

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