Intech Investment Management LLC Has $2.43 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Intech Investment Management LLC lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 65.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,965 shares of the technology company’s stock after selling 28,690 shares during the quarter. Intech Investment Management LLC’s holdings in Arista Networks were worth $2,425,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ANET. Morgan Stanley grew its position in Arista Networks by 162.2% in the fourth quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after acquiring an additional 3,432,952 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Arista Networks during the second quarter valued at about $465,634,000. Norges Bank acquired a new stake in shares of Arista Networks during the fourth quarter valued at about $308,885,000. FMR LLC boosted its stake in shares of Arista Networks by 48.3% during the first quarter. FMR LLC now owns 6,815,983 shares of the technology company’s stock valued at $1,144,131,000 after purchasing an additional 2,220,697 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Arista Networks by 40.6% during the first quarter. Wellington Management Group LLP now owns 4,748,540 shares of the technology company’s stock valued at $797,090,000 after purchasing an additional 1,371,391 shares in the last quarter. Institutional investors own 67.13% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent research reports. Bank of America lifted their price target on Arista Networks from $190.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. KeyCorp lifted their price target on Arista Networks from $217.00 to $232.00 and gave the company an “overweight” rating in a research note on Tuesday, October 31st. Rosenblatt Securities lifted their price target on Arista Networks from $190.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $185.00 to $220.00 in a research note on Tuesday, October 31st. Finally, Citigroup raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $177.00 to $220.00 in a research note on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $214.72.

Arista Networks Stock Down 0.7 %

NYSE ANET opened at $213.74 on Thursday. The company has a market cap of $66.49 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 1.79 and a beta of 1.12. Arista Networks, Inc. has a 52 week low of $107.57 and a 52 week high of $218.36. The business has a 50 day moving average price of $192.78 and a 200-day moving average price of $174.37.

Insider Activity

In related news, CEO Jayshree Ullal sold 22,500 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $211.30, for a total transaction of $4,754,250.00. Following the completion of the sale, the chief executive officer now owns 88,859 shares in the company, valued at $18,775,906.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jayshree Ullal sold 22,500 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $211.30, for a total transaction of $4,754,250.00. Following the completion of the sale, the chief executive officer now owns 88,859 shares in the company, valued at $18,775,906.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Mccool sold 2,819 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $187.96, for a total value of $529,859.24. Following the sale, the insider now owns 144 shares of the company’s stock, valued at approximately $27,066.24. The disclosure for this sale can be found here. Insiders sold a total of 157,264 shares of company stock worth $31,208,692 over the last quarter. 18.99% of the stock is currently owned by corporate insiders.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.