Arista Networks, Inc. (NYSE:ANET) Holdings Lowered by ASB Consultores LLC

ASB Consultores LLC cut its stake in Arista Networks, Inc. (NYSE:ANET) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894 shares of the technology company’s stock after selling 39 shares during the period. ASB Consultores LLC’s holdings in Arista Networks were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in Arista Networks by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 42,089 shares of the technology company’s stock worth $12,205,000 after acquiring an additional 8,656 shares in the last quarter. Nordea Investment Management AB lifted its stake in Arista Networks by 32.5% during the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares during the last quarter. Financial Counselors Inc. bought a new stake in Arista Networks during the first quarter worth approximately $215,000. GSA Capital Partners LLP grew its position in Arista Networks by 86.8% in the first quarter. GSA Capital Partners LLP now owns 2,968 shares of the technology company’s stock worth $861,000 after buying an additional 1,379 shares during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Arista Networks in the first quarter valued at $317,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 0.2 %

Shares of NYSE:ANET opened at $394.88 on Tuesday. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73. The firm has a fifty day moving average price of $377.14 and a 200 day moving average price of $340.79. The stock has a market capitalization of $124.05 billion, a PE ratio of 51.22, a P/E/G ratio of 3.47 and a beta of 1.08.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Evercore ISI raised their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Barclays lifted their price target on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp upped their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $373.88.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,306 shares of company stock valued at $20,029,349. Corporate insiders own 3.54% of the company’s stock.

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.