Penserra Capital Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 55.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,516 shares of the technology company’s stock after buying an additional 5,539 shares during the quarter. Penserra Capital Management LLC’s holdings in Arista Networks were worth $2,941,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. IFC Holdings Incorporated FL lifted its stake in shares of Arista Networks by 2.7% in the 3rd quarter. IFC Holdings Incorporated FL now owns 10,789 shares of the technology company’s stock valued at $2,045,000 after purchasing an additional 280 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of Arista Networks by 2.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 15,100 shares of the technology company’s stock valued at $2,863,000 after purchasing an additional 400 shares during the period. Korea Investment CORP lifted its stake in shares of Arista Networks by 16.8% in the 3rd quarter. Korea Investment CORP now owns 20,200 shares of the technology company’s stock valued at $3,830,000 after purchasing an additional 2,900 shares during the period. Aperio Group LLC lifted its stake in shares of Arista Networks by 37.9% in the 3rd quarter. Aperio Group LLC now owns 3,479 shares of the technology company’s stock valued at $660,000 after purchasing an additional 956 shares during the period. Finally, Nationwide Fund Advisors raised its stake in Arista Networks by 79.3% during the 3rd quarter. Nationwide Fund Advisors now owns 9,017 shares of the technology company’s stock worth $1,710,000 after buying an additional 3,989 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks, Inc. (NYSE:ANET) traded up $4.10 during mid-day trading on Tuesday, hitting $225.15. 963,300 shares of the company traded hands, compared to its average volume of 830,056. 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, Inc. has a 52 week low of $86.00 and a 52 week high of $227.13. The company has a market cap of $16,570.00, a price-to-earnings ratio of 53.14, a P/E/G ratio of 2.04 and a beta of 1.31.
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In other Arista Networks news, insider Jayshree Ullal sold 73,620 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $220.31, for a total value of $16,219,222.20. Following the sale, the insider now owns 3,564 shares of the company’s stock, valued at approximately $785,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the completion of the sale, the insider now directly owns 86,788 shares in the company, valued at approximately $16,485,380.60. The disclosure for this sale can be found here. In the last three months, insiders sold 202,962 shares of company stock worth $42,475,487. Insiders own 28.09% of the company’s stock.
A number of research firms recently commented on ANET. Wells Fargo & Company assumed coverage on Arista Networks in a report on Tuesday. They set a “market perform” rating for the company. Piper Jaffray Companies assumed coverage on shares of Arista Networks in a research note on Monday. They issued a “neutral” rating and a $230.00 price objective on the stock. Royal Bank Of Canada raised shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. KeyCorp reissued a “buy” rating on shares of Arista Networks in a research note on Friday, November 3rd. Finally, UBS AG boosted their price objective on shares of Arista Networks from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Sixteen investment 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. The company has an average rating of “Buy” and a consensus price target of $184.69.
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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