Acadian Asset Management LLC grew its stake in shares of Arista Networks Inc (NYSE:ANET) by 1,368.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,944 shares of the technology company’s stock after acquiring an additional 95,003 shares during the period. Acadian Asset Management LLC owned about 0.14% of Arista Networks worth $24,016,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Arista Networks by 41.1% in the 2nd quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock worth $356,048,000 after acquiring an additional 692,651 shares during the period. Koch Industries Inc. purchased a new stake in Arista Networks in the 2nd quarter worth approximately $592,000. State Street Corp grew its stake in Arista Networks by 44.7% in the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after acquiring an additional 328,534 shares during the period. Atlantic Trust Group LLC purchased a new stake in Arista Networks in the 3rd quarter worth approximately $50,736,000. Finally, Vanguard Group Inc. grew its stake in Arista Networks by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after acquiring an additional 249,753 shares during the period. Hedge funds and other institutional investors own 58.15% of the company’s stock.
Arista Networks Inc (ANET) traded up $11.99 during midday trading on Monday, reaching $284.54. 1,270,395 shares of the company’s stock traded hands, compared to its average volume of 837,581. Arista Networks Inc has a 1 year low of $97.27 and a 1 year high of $289.07. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $20,800.00, a PE ratio of 59.03, a price-to-earnings-growth ratio of 2.10 and a beta of 1.47.
Several analysts have recently issued reports on the stock. DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Friday, November 3rd. Piper Jaffray Companies assumed coverage on shares of Arista Networks in a research note on Monday, November 13th. They set a “neutral” rating and a $230.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $217.00 price objective (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 reaffirmed a “buy” rating and set a $270.00 price target on shares of Arista Networks in a research report on Thursday, December 14th. Finally, Royal Bank of Canada upped their price target on shares of Arista Networks from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. Fifteen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $223.31.
In related news, insider Ita M. Brennan sold 3,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $229.97, for a total transaction of $804,895.00. Following the completion of the sale, the insider now directly owns 17,677 shares of the company’s stock, valued at $4,065,179.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,294 shares of the company’s stock, valued at $3,384,661.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,683 shares of company stock valued at $92,010,804. 28.09% of the stock is owned by insiders.
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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.
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