Andra AP fonden lifted its holdings in Arista Networks Inc (NYSE:ANET) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,000 shares of the technology company’s stock after purchasing an additional 1,000 shares during the period. Andra AP fonden’s holdings in Arista Networks were worth $2,867,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Strategic Blueprint LLC acquired a new position in shares of Arista Networks in the third quarter valued at approximately $35,000. Meeder Asset Management Inc. grew its holdings in Arista Networks by 1,281.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after acquiring an additional 141 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Arista Networks during the 2nd quarter worth approximately $41,000. Financial Management Professionals Inc. grew its holdings in Arista Networks by 548.0% during the 2nd quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock worth $42,000 after acquiring an additional 137 shares in the last quarter. Finally, Coastal Investment Advisors Inc. grew its holdings in Arista Networks by 311.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 185 shares of the technology company’s stock worth $48,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 59.68% of the company’s stock.

In related news, SVP Kenneth Duda sold 10,874 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $191.71, for a total value of $2,084,654.54. Following the completion of the sale, the senior vice president now owns 2,979 shares in the company, valued at approximately $571,104.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $236.93, for a total transaction of $473,860.00. Following the completion of the sale, the senior vice president now owns 12,312 shares of the company’s stock, valued at approximately $2,917,082.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,953 shares of company stock valued at $8,006,469. 23.83% of the stock is owned by insiders.

Several research firms have commented on ANET. Morgan Stanley lowered their price target on shares of Arista Networks from $275.00 to $195.00 and set a “weight” rating for the company in a report on Friday, November 1st. New Street Research began coverage on shares of Arista Networks in a report on Wednesday, November 27th. They set a “buy” rating and a $250.00 price target for the company. Credit Suisse Group cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 price target for the company. in a report on Friday, November 1st. Wells Fargo & Co reiterated a “market perform” rating and set a $205.00 price target (down previously from $270.00) on shares of Arista Networks in a report on Friday, November 1st. Finally, Bank of America downgraded shares of Arista Networks from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Arista Networks presently has an average rating of “Hold” and an average price target of $230.50.

Shares of NYSE:ANET opened at $193.13 on Tuesday. The firm has a 50 day simple moving average of $211.50 and a 200-day simple moving average of $237.84. Arista Networks Inc has a twelve month low of $173.31 and a twelve month high of $331.27. The company has a market capitalization of $14.91 billion, a PE ratio of 22.48, a P/E/G ratio of 1.49 and a beta of 1.54. The company has a current ratio of 5.91, a quick ratio of 5.47 and a debt-to-equity ratio of 0.03.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.19 by $0.50. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. The firm had revenue of $654.40 million during the quarter, compared to the consensus estimate of $653.26 million. During the same quarter in the prior year, the firm earned $2.11 EPS. Arista Networks’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities research analysts predict that Arista Networks Inc will post 8.55 EPS for the current fiscal year.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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