Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 261.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,500 shares of the technology company’s stock after purchasing an additional 4,700 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Arista Networks were worth $1,233,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. PNC Financial Services Group Inc. grew its position in shares of Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares during the period. LS Investment Advisors LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at about $119,000. D.A. Davidson & CO. grew its position in shares of Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after acquiring an additional 30 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Arista Networks during the 3rd quarter valued at about $151,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Arista Networks during the 2nd quarter valued at about $202,000. 58.20% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on ANET. Bank of America raised their target price on Arista Networks from $210.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, November 29th. KeyCorp restated a “buy” rating and set a $200.00 target price on shares of Arista Networks in a research report on Friday, September 29th. BMO Capital Markets cut Arista Networks from an “outperform” rating to a “market perform” rating and set a $190.00 target price on the stock. in a research report on Thursday, September 28th. They noted that the move was a valuation call. Berenberg Bank began coverage on Arista Networks in a research report on Tuesday, September 26th. They set a “buy” rating and a $225.00 target price on the stock. Finally, Citigroup raised their target price on Arista Networks to $250.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Sixteen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $192.55.
Arista Networks, Inc. (NYSE ANET) opened at $219.86 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. Arista Networks, Inc. has a 12 month low of $87.33 and a 12 month high of $245.65. The firm has a market cap of $15,560.20, a P/E ratio of 51.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.38.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $190.47, for a total value of $380,940.00. Following the transaction, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at approximately $2,476,490.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andreas Bechtolsheim sold 39,680 shares of the firm’s 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 completion of the transaction, the insider now directly owns 73,102 shares in the company, valued at $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 over the last three months. Corporate insiders own 28.09% of the company’s stock.
Arista Networks Company Profile
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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