Arista Networks, Inc. (ANET) Holdings Cut by Alps Advisors Inc.

Alps Advisors Inc. lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 28.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,708 shares of the technology company’s stock after selling 1,062 shares during the period. Alps Advisors Inc.’s holdings in Arista Networks were worth $513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Arista Networks by 20.5% in the 2nd 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 acquired a new position in shares of Arista Networks in the 2nd quarter valued at about $119,000. D.A. Davidson & CO. increased its holdings in shares of Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after purchasing an additional 30 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Arista Networks in the 2nd quarter valued at about $202,000. Finally, Financial Architects Inc increased its holdings in shares of Arista Networks by 17.9% in the 2nd quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock valued at $222,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

In related news, insider Jayshree Ullal sold 72,443 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $225.96, for a total value of $16,369,220.28. Following the completion of the transaction, the insider now directly owns 3,564 shares in the company, valued at $805,321.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 8,687 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $174.94, for a total value of $1,519,703.78. Following the completion of the transaction, the senior vice president now owns 1,593 shares of the company’s stock, valued at $278,679.42. The disclosure for this sale can be found here. Insiders sold 275,405 shares of company stock valued at $58,844,707 over the last 90 days. 28.09% of the stock is currently owned by corporate insiders.

Arista Networks, Inc. (NYSE:ANET) opened at $233.82 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The company has a market capitalization of $16,940.00, a price-to-earnings ratio of 54.59, a P/E/G ratio of 2.10 and a beta of 1.31. Arista Networks, Inc. has a 12 month low of $87.33 and a 12 month high of $234.63.

A number of equities analysts have recently weighed in on ANET shares. BidaskClub upgraded Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. JMP Securities upped their target price on Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $145.00 target price on shares of Arista Networks in a report on Friday, July 21st. Finally, KeyCorp reiterated a “buy” rating on shares of Arista Networks in a report on Friday, November 3rd. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $187.21.

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About Arista Networks

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.

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

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