Gilder Gagnon Howe & Co. LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 584,389 shares of the technology company’s stock after selling 1,056 shares during the quarter. Arista Networks makes up approximately 1.6% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 14th largest position. Gilder Gagnon Howe & Co. LLC owned about 0.80% of Arista Networks worth $110,806,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of ANET. BlackRock Inc. lifted its stake in shares of Arista Networks by 34,238.9% in the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after purchasing an additional 1,679,417 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in Arista Networks by 13,502.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after acquiring an additional 1,219,248 shares in the last quarter. Koch Industries Inc. acquired a new position in Arista Networks during the 2nd quarter worth about $592,000. State Street Corp lifted its stake in Arista Networks by 44.7% during 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 in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Arista Networks by 7.1% during 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 in the last quarter. Institutional investors own 59.73% of the company’s stock.
Arista Networks, Inc. (NYSE:ANET) traded down $0.40 during midday trading on Wednesday, hitting $241.43. 954,600 shares of the company traded hands, compared to its average volume of 827,278. The company has a market capitalization of $17,650.00, a PE ratio of 58.13, a PEG ratio of 2.24 and a beta of 1.31. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03. Arista Networks, Inc. has a twelve month low of $87.33 and a twelve month high of $245.65.
In related news, insider Jayshree Ullal sold 52,557 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $231.82, for a total value of $12,183,763.74. Following the completion of the sale, the insider now owns 3,564 shares of the company’s stock, valued at $826,206.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ita M. Brennan sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $176.12, for a total transaction of $616,420.00. Following the completion of the sale, the insider now directly owns 16,903 shares of the company’s stock, valued at approximately $2,976,956.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 322,962 shares of company stock valued at $70,153,471. Corporate insiders own 28.09% of the company’s stock.
Several equities research analysts have weighed in on the company. Jefferies Group LLC restated a “hold” rating and set a $145.00 price target (up previously from $120.00) on shares of Arista Networks in a report on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $217.00 price objective (up previously from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. William Blair raised Arista Networks from a “market perform” rating to an “outperform” rating in a report on Friday, August 4th. Stifel Nicolaus reissued a “hold” rating and set a $165.00 price target (up previously from $145.00) on shares of Arista Networks in a research report on Wednesday, August 9th. Finally, Nomura raised their price target on Arista Networks from $173.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $187.21.
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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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