Robeco Institutional Asset Management B.V. lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,898 shares of the technology company’s stock after selling 3,706 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Arista Networks were worth $5,859,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Arista Networks during the first quarter worth about $164,000. Legal & General Group Plc grew its holdings in Arista Networks by 209.1% during the 1st quarter. Legal & General Group Plc now owns 13,398 shares of the technology company’s stock valued at $1,772,000 after buying an additional 9,064 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Arista Networks by 21.4% in the 1st quarter. Morgan Stanley now owns 206,066 shares of the technology company’s stock worth $27,257,000 after purchasing an additional 36,323 shares during the period. BlackRock Inc. boosted its holdings 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 worth $222,784,000 after purchasing an additional 1,679,417 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Arista Networks by 6.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 112,315 shares of the technology company’s stock worth $14,856,000 after purchasing an additional 6,948 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Arista Networks news, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the sale, the insider now owns 86,788 shares of the company’s stock, valued at approximately $16,485,380.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ita M. Brennan sold 5,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $175.00, for a total transaction of $875,000.00. Following the sale, the insider now owns 21,079 shares of the company’s stock, valued at $3,688,825. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,962 shares of company stock worth $42,475,487. Corporate insiders own 28.09% of the company’s stock.
ANET has been the subject of a number of recent research reports. BidaskClub upgraded Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. JMP Securities raised their price target on Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $145.00 target price on shares of Arista Networks in a research report on Friday, July 21st. Finally, Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $210.00 in a research report on Wednesday, September 20th. Sixteen research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks currently has an average rating of “Buy” and a consensus price target of $184.69.
Arista Networks, Inc. (ANET) traded up $4.10 during trading on Tuesday, reaching $225.15. The company’s stock had a trading volume of 963,300 shares, compared to its average volume of 830,056. The firm has a market capitalization of $16,570.00, a PE ratio of 53.14, a PEG ratio of 2.04 and a beta of 1.31. Arista Networks, Inc. has a one year low of $86.00 and a one year high of $227.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.
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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