Allianz Asset Management GmbH increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 30.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,729 shares of the technology company’s stock after purchasing an additional 88,504 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.52% of Arista Networks worth $72,570,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ANET. LS Investment Advisors LLC acquired a new stake in shares of Arista Networks during the 2nd quarter worth about $119,000. Aperio Group LLC bought a new stake in Arista Networks during the 2nd quarter worth about $378,000. Public Employees Retirement Association of Colorado grew its holdings in Arista Networks by 435.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,622 shares of the technology company’s stock worth $992,000 after acquiring an additional 5,386 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Arista Networks by 230.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 15,566 shares of the technology company’s stock worth $2,328,000 after acquiring an additional 10,859 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Arista Networks during the 2nd quarter worth about $202,000. Institutional investors and hedge funds own 58.20% of the company’s stock.
In related news, SVP Kenneth Duda sold 8,687 shares of Arista Networks stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $174.94, for a total transaction of $1,519,703.78. Following the transaction, the senior vice president now owns 1,593 shares of the company’s stock, valued at approximately $278,679.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andreas Bechtolsheim sold 39,680 shares of Arista Networks stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $241.92, for a total transaction of $9,599,385.60. Following the transaction, the insider now directly owns 73,102 shares in the company, valued at approximately $17,684,835.84. The disclosure for this sale can be found here. Insiders sold a total of 495,012 shares of company stock worth $111,840,635 in the last ninety days. Insiders own 28.09% of the company’s stock.
A number of equities research analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and set a $180.00 price objective (up previously from $160.00) on shares of Arista Networks in a report on Wednesday, August 9th. DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Friday, November 3rd. Jefferies Group reissued a “hold” rating and set a $145.00 price objective (up previously from $120.00) on shares of Arista Networks in a report on Wednesday, August 9th. Piper Jaffray Companies assumed coverage on shares of Arista Networks in a report on Monday, November 13th. They set a “neutral” rating and a $230.00 price objective on the stock. Finally, William Blair reissued an “outperform” rating on shares of Arista Networks in a report on Monday, August 14th. Sixteen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Arista Networks presently has an average rating of “Buy” and an average price target of $192.55.
Arista Networks, Inc. (NYSE:ANET) opened at $211.05 on Wednesday. The stock has a market cap of $15,313.12, a PE ratio of 50.36, a PEG ratio of 1.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. Arista Networks, Inc. has a one year low of $87.33 and a one year high of $245.65.
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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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