Arista Networks, Inc. (NYSE:ANET) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 77.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 74,089 shares of the technology company’s stock after acquiring an additional 32,237 shares during the period. QRG Capital Management Inc.’s holdings in Arista Networks were worth $28,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GQG Partners LLC acquired a new stake in shares of Arista Networks during the 1st quarter worth about $881,848,000. Legal & General Group Plc raised its position in shares of Arista Networks by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares in the last quarter. Swedbank AB purchased a new position in Arista Networks during the 1st quarter worth approximately $521,767,000. Ameriprise Financial Inc. grew its stake in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in Arista Networks by 18.7% during the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after buying an additional 148,759 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,522 shares of company stock worth $20,099,338 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ANET shares. UBS Group raised their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Rosenblatt Securities raised their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Citigroup raised their price target on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $373.88.

Arista Networks Trading Up 0.7 %

Shares of ANET traded up $2.66 during mid-day trading on Monday, hitting $396.83. The company’s stock had a trading volume of 118,613 shares, compared to its average volume of 2,190,638. The firm has a market capitalization of $124.66 billion, a P/E ratio of 51.12, a P/E/G ratio of 3.40 and a beta of 1.08. Arista Networks, Inc. has a 1-year low of $203.19 and a 1-year high of $422.73. The firm has a 50-day simple moving average of $376.13 and a 200 day simple moving average of $339.82.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.