Arista Networks Inc (ANET) Holdings Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its position in Arista Networks Inc (NYSE:ANET) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 205,474 shares of the technology company’s stock after selling 6,150 shares during the period. Dimensional Fund Advisors LP’s holdings in Arista Networks were worth $38,957,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after acquiring an additional 126 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after acquiring an additional 30 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Arista Networks in the 3rd quarter worth $151,000. MML Investors Services LLC bought a new stake in Arista Networks in the 2nd quarter worth $223,000. Finally, Sigma Investment Counselors Inc. bought a new stake in Arista Networks in the 3rd quarter worth $228,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Inc (NYSE:ANET) opened at $260.79 on Friday. Arista Networks Inc has a 12-month low of $87.33 and a 12-month high of $261.81. The stock has a market cap of $19,060.00, a PE ratio of 54.11, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

A number of equities research analysts have issued reports on ANET shares. Needham & Company LLC reissued a “buy” rating and issued a $217.00 price target (up previously from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 target price on the stock in a research note on Friday, November 3rd. Citigroup reaffirmed a “buy” rating and set a $215.00 target price on shares of Arista Networks in a research note on Wednesday, September 27th. Berenberg Bank began coverage on shares of Arista Networks in a research note on Tuesday, September 26th. They set a “buy” rating and a $225.00 target price on the stock. Finally, BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 23rd. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $205.66.

In related news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $235.58, for a total transaction of $471,160.00. Following the completion of the transaction, the senior vice president now directly owns 13,460 shares of the company’s stock, valued at approximately $3,170,906.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anshul Sadana sold 12,000 shares of Arista Networks stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $189.95, for a total transaction of $2,279,400.00. Following the transaction, the insider now directly owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 606,126 shares of company stock valued at $138,901,364. 28.09% of the stock is currently owned by corporate insiders.

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Arista Networks 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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