Keybank National Association OH grew its stake in Arista Networks, Inc. (NYSE:ANET) by 121.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,673 shares of the technology company’s stock after purchasing an additional 6,402 shares during the quarter. Keybank National Association OH’s holdings in Arista Networks were worth $2,213,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Arista Networks by 20.5% in 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 during the period. LS Investment Advisors LLC bought a new position in Arista Networks during the second quarter worth about $119,000. D.A. Davidson & CO. increased 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 worth $147,000 after acquiring an additional 30 shares during the period. Daiwa Securities Group Inc. bought a new position in Arista Networks during the second quarter worth about $202,000. Finally, Financial Architects Inc increased 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 worth $222,000 after acquiring an additional 225 shares during the period. 59.43% of the stock is currently owned by institutional investors.
In other Arista Networks news, insider Jayshree Ullal sold 81,380 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $211.89, for a total transaction of $17,243,608.20. Following the completion of the transaction, the insider now owns 3,564 shares in the company, valued at approximately $755,175.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ita M. Brennan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $175.00, for a total transaction of $875,000.00. Following the transaction, the insider now owns 21,079 shares of the company’s stock, valued at approximately $3,688,825. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,342 shares of company stock valued at $26,256,265. Company insiders own 28.09% of the company’s stock.
ANET has been the topic of a number of recent research reports. Cowen and Company reaffirmed a “buy” rating and set a $168.00 price target (up from $145.00) on shares of Arista Networks in a research report on Friday, August 4th. Citigroup Inc. raised their price target on shares of Arista Networks from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $165.00 price target (up from $156.00) on shares of Arista Networks in a research report on Monday, July 17th. Argus reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price target on shares of Arista Networks in a research report on Tuesday, September 12th. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $183.07.
Shares of Arista Networks, Inc. (ANET) opened at $221.05 on Friday. The company has a current ratio of 3.66, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03. Arista Networks, Inc. has a 1 year low of $84.73 and a 1 year high of $221.67. The company has a market cap of $15,610.64, a P/E ratio of 51.33, a P/E/G ratio of 1.97 and a beta of 1.31.
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Arista Networks Company 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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