Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 1.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 127,183 shares of the technology company’s stock after acquiring an additional 2,249 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Arista Networks were worth $48,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. Beacon Capital Management LLC grew its holdings in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the second quarter worth $27,000. Byrne Asset Management LLC acquired a new stake in Arista Networks in the second quarter valued at $33,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Arista Networks in the second quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ANET. Jefferies Financial Group raised their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group raised their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley upped their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Rosenblatt Securities raised their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, Citigroup upped their price objective on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $382.52, for a total transaction of $765,040.00. Following the completion of the transaction, the director now directly owns 46,946 shares in the company, valued at approximately $17,957,783.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,522 shares of company stock valued at $20,099,338 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock traded up $2.66 during trading on Monday, reaching $396.83. The company had a trading volume of 118,613 shares, compared to its average volume of 2,190,638. The firm has a market capitalization of $124.66 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 3.40 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $422.73. The stock’s 50 day moving average price is $376.13 and its two-hundred day moving average price is $339.82.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.