Grandview Asset Management LLC purchased a new stake in Arista Networks Inc (NYSE:ANET) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,348 shares of the technology company’s stock, valued at approximately $495,000.
Several other large investors also recently made changes to their positions in ANET. Capital International Investors purchased a new position in shares of Arista Networks in the 3rd quarter valued at $416,263,000. Vanguard Group Inc increased its holdings in shares of Arista Networks by 21.1% in the 3rd quarter. Vanguard Group Inc now owns 5,432,205 shares of the technology company’s stock valued at $1,444,206,000 after acquiring an additional 946,977 shares during the period. BlackRock Inc. increased its holdings in shares of Arista Networks by 30.2% in the 3rd quarter. BlackRock Inc. now owns 3,653,518 shares of the technology company’s stock valued at $971,324,000 after acquiring an additional 847,974 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Arista Networks by 41.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,129,068 shares of the technology company’s stock valued at $300,174,000 after acquiring an additional 331,941 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Arista Networks by 39.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 975,708 shares of the technology company’s stock valued at $259,402,000 after acquiring an additional 274,184 shares during the period. Institutional investors and hedge funds own 60.35% of the company’s stock.
ANET has been the topic of a number of analyst reports. Citigroup lifted their price target on Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Wolfe Research assumed coverage on Arista Networks in a research note on Tuesday, December 11th. They set an “underperform” rating on the stock. KeyCorp boosted their target price on Arista Networks from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Nomura boosted their target price on Arista Networks from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. Finally, Stifel Nicolaus set a $275.00 target price on Arista Networks and gave the stock a “buy” rating in a research note on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $291.06.
Shares of ANET opened at $228.48 on Monday. Arista Networks Inc has a one year low of $187.08 and a one year high of $313.37. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 1.35 and a beta of 1.40.
In other Arista Networks news, SVP Marc Taxay sold 5,000 shares of Arista Networks stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $233.53, for a total transaction of $1,167,650.00. Following the completion of the sale, the senior vice president now owns 16,964 shares of the company’s stock, valued at approximately $3,961,602.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anshul Sadana sold 1,197 shares of Arista Networks stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $235.00, for a total value of $281,295.00. Following the sale, the insider now directly owns 1,414 shares of the company’s stock, valued at approximately $332,290. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,441 shares of company stock valued at $7,459,121. 24.95% of the stock is currently owned by insiders.
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Arista Networks Company Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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