First Trust Advisors LP grew its holdings in shares of Arista Networks Inc (NYSE:ANET) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 904,279 shares of the technology company’s stock after buying an additional 140,944 shares during the period. Arista Networks accounts for 0.5% of First Trust Advisors LP’s portfolio, making the stock its 22nd biggest position. First Trust Advisors LP owned approximately 1.24% of Arista Networks worth $213,030,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of ANET. PNC Financial Services Group Inc. grew its stake in Arista Networks by 20.5% in the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares during the period. Dimensional Fund Advisors LP grew its stake in Arista Networks by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 211,624 shares of the technology company’s stock worth $31,700,000 after purchasing an additional 858 shares during the period. Janus Henderson Group PLC purchased a new stake in Arista Networks in the second quarter worth $20,802,000. State Street Corp grew its stake in Arista Networks by 44.7% in the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after purchasing an additional 328,534 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Arista Networks by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 110,955 shares of the technology company’s stock worth $16,621,000 after purchasing an additional 456 shares during the period. 58.15% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Arista Networks to $310.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Investment Research cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Wells Fargo & Co assumed coverage on Arista Networks in a research note on Tuesday, November 14th. They issued a “market perform” rating and a $235.00 price target on the stock. Goldman Sachs Group assumed coverage on Arista Networks in a research note on Wednesday, February 7th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $217.00 price target (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. Fourteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $230.17.
Shares of Arista Networks Inc (ANET) opened at $292.58 on Wednesday. Arista Networks Inc has a 12 month low of $99.35 and a 12 month high of $292.73. The company has a market capitalization of $20,800.06, a price-to-earnings ratio of 60.45, a PEG ratio of 2.19 and a beta of 1.47. 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 other news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $275.31, for a total transaction of $550,620.00. Following the transaction, the senior vice president now directly owns 12,294 shares of the company’s stock, valued at $3,384,661.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anshul Sadana sold 24,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $256.25, for a total value of $6,150,000.00. Following the transaction, the insider now directly owns 80,972 shares in the company, valued at $20,749,075. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,683 shares of company stock worth $92,010,804. Insiders own 28.09% of the company’s stock.
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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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