Schwab Charles Investment Management Inc. Has $15.40 Million Holdings in Arista Networks Inc (ANET)

Schwab Charles Investment Management Inc. decreased its stake in Arista Networks Inc (NYSE:ANET) by 32.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,226 shares of the technology company’s stock after selling 38,450 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.11% of Arista Networks worth $15,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ANET. PNC Financial Services Group Inc. boosted its stake in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Arista Networks during the third quarter valued at approximately $151,000. D.A. Davidson & CO. boosted its stake in Arista Networks by 3.2% during the second quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after buying an additional 30 shares during the last quarter. Sigma Investment Counselors Inc. bought a new position in Arista Networks during the third quarter valued at approximately $228,000. Finally, Empirical Finance LLC bought a new position in Arista Networks during the third quarter valued at approximately $231,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

In other news, SVP Kenneth Duda sold 7,775 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $194.12, for a total value of $1,509,283.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $190.47, for a total value of $380,940.00. Following the completion of the sale, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at approximately $2,476,490.94. The disclosure for this sale can be found here. Insiders sold a total of 613,901 shares of company stock worth $140,320,427 over the last quarter. Company insiders own 28.09% of the company’s stock.

Arista Networks Inc (NYSE ANET) opened at $236.55 on Friday. Arista Networks Inc has a fifty-two week low of $87.33 and a fifty-two week high of $245.65. The stock has a market capitalization of $17,290.00, a price-to-earnings ratio of 49.08, a PEG ratio of 2.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07.

A number of equities analysts recently commented on ANET shares. Citigroup reissued a “buy” rating and set a $215.00 price target on shares of Arista Networks in a research note on Wednesday, September 27th. Berenberg Bank started coverage on Arista Networks in a research note on Tuesday, September 26th. They issued a “buy” rating and a $225.00 price objective for the company. BidaskClub raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. KeyCorp reaffirmed a “buy” rating and issued a $176.00 price objective on shares of Arista Networks in a research note on Tuesday, September 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Arista Networks in a research note on Tuesday, September 12th. Fourteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Arista Networks presently has a consensus rating of “Buy” and an average price target of $200.14.

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

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