Van ECK Associates Corp Purchases 348 Shares of Arista Networks, Inc. (NYSE:ANET)

Van ECK Associates Corp grew its stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 40,419 shares of the technology company’s stock after acquiring an additional 348 shares during the period. Van ECK Associates Corp’s holdings in Arista Networks were worth $7,434,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cambridge Trust Co. boosted its stake in shares of Arista Networks by 70.1% during the third quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after purchasing an additional 20,704 shares during the period. Rheos Capital Works Inc. raised its holdings in shares of Arista Networks by 28.6% in the third quarter. Rheos Capital Works Inc. now owns 67,500 shares of the technology company’s stock valued at $12,415,000 after acquiring an additional 15,000 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Arista Networks by 450.9% in the third quarter. Inspire Investing LLC now owns 33,646 shares of the technology company’s stock valued at $6,189,000 after acquiring an additional 27,539 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Arista Networks by 36.7% in the second quarter. Impax Asset Management Group plc now owns 6,680 shares of the technology company’s stock valued at $1,083,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Arista Networks by 18.2% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,926 shares of the technology company’s stock valued at $960,000 after acquiring an additional 912 shares in the last quarter. 67.13% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 2.4 %

ANET opened at $282.45 on Friday. Arista Networks, Inc. has a 52-week low of $130.08 and a 52-week high of $284.82. The company has a market cap of $87.87 billion, a P/E ratio of 47.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.13. The firm’s 50-day moving average price is $246.02 and its 200-day moving average price is $210.83.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $217.00, for a total value of $4,340,000.00. Following the sale, the chief executive officer now owns 1,723,500 shares in the company, valued at $373,999,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jayshree Ullal sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $217.00, for a total value of $4,340,000.00. Following the sale, the chief executive officer now owns 1,723,500 shares in the company, valued at $373,999,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Insiders have sold a total of 187,534 shares of company stock worth $43,800,343 over the last quarter. Insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ANET. Morgan Stanley lifted their price objective on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Needham & Company LLC lifted their price objective on Arista Networks from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 10th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Monday, January 8th. Citigroup boosted their target price on shares of Arista Networks from $220.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Arista Networks from $223.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $240.83.

Check Out Our Latest Stock Analysis on ANET

About Arista Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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