ING Groep NV purchased a new stake in shares of Arista Networks Inc (NYSE:ANET) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,000 shares of the technology company’s stock, valued at approximately $1,178,000.

Several other hedge funds have also made changes to their positions in ANET. State Street Corp lifted its stake in shares of Arista Networks by 44.7% during the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after buying an additional 328,534 shares in the last quarter. Atlantic Trust Group LLC purchased a new stake in shares of Arista Networks during the 3rd quarter valued at approximately $50,736,000. Janus Henderson Group PLC lifted its stake in shares of Arista Networks by 167.8% during the 3rd quarter. Janus Henderson Group PLC now owns 371,915 shares of the technology company’s stock valued at $70,519,000 after buying an additional 233,039 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Arista Networks by 88.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 465,641 shares of the technology company’s stock valued at $88,290,000 after buying an additional 218,014 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Arista Networks by 283.7% during the 3rd quarter. Legal & General Group Plc now owns 203,400 shares of the technology company’s stock valued at $38,567,000 after buying an additional 150,391 shares in the last quarter. Institutional investors own 58.15% of the company’s stock.

Arista Networks Inc (NYSE ANET) opened at $284.54 on Tuesday. The company has a market cap of $19,923.58, a price-to-earnings ratio of 58.79, a PEG ratio of 2.10 and a beta of 1.47. Arista Networks Inc has a twelve month low of $98.62 and a twelve month high of $289.07. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03.

In related news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $275.31, for a total transaction of $550,620.00. Following the transaction, the senior vice president now owns 12,294 shares of the company’s stock, valued at approximately $3,384,661.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jayshree Ullal sold 52,557 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $231.82, for a total transaction of $12,183,763.74. Following the transaction, the insider now directly owns 3,564 shares in the company, valued at approximately $826,206.48. The disclosure for this sale can be found here. Insiders sold a total of 385,683 shares of company stock worth $92,010,804 in the last three months. Insiders own 28.09% of the company’s stock.

Several research firms have issued reports on ANET. DA Davidson upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 target price on the stock in a research note on Friday, November 3rd. Piper Jaffray Companies began coverage on shares of Arista Networks in a research note on Monday, November 13th. They issued a “neutral” rating and a $230.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $217.00 target price (up from $175.00) on shares of Arista Networks in a research note on Friday, November 3rd. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $270.00 target price on shares of Arista Networks in a research note on Thursday, December 14th. Finally, Royal Bank of Canada increased their target price on shares of Arista Networks from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, November 3rd. Fifteen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $223.31.

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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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