Ardevora Asset Management LLP Sells 29,300 Shares of Arista Networks, Inc. (ANET)

Ardevora Asset Management LLP decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,600 shares of the technology company’s stock after selling 29,300 shares during the quarter. Arista Networks comprises approximately 1.2% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 7th biggest holding. Ardevora Asset Management LLP owned about 0.29% of Arista Networks worth $40,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Arista Networks by 20.5% in 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 in the last quarter. LS Investment Advisors LLC bought a new position in Arista Networks in the second quarter valued at approximately $119,000. D.A. Davidson & CO. lifted its stake in Arista Networks by 3.2% in 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Arista Networks in the third quarter valued at approximately $151,000. Finally, Daiwa Securities Group Inc. bought a new position in Arista Networks in the second quarter valued at approximately $202,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks, Inc. (NYSE:ANET) traded up $2.89 during trading hours on Tuesday, hitting $228.04. 247,752 shares of the company’s stock traded hands, compared to its average volume of 830,056. Arista Networks, Inc. has a 12-month low of $86.00 and a 12-month high of $227.13. The firm has a market capitalization of $16,570.00, a P/E ratio of 53.14, a P/E/G ratio of 2.04 and a beta of 1.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66.

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A number of brokerages have weighed in on ANET. Piper Jaffray Companies began coverage on shares of Arista Networks in a research note on Monday. They issued a “neutral” rating and a $230.00 price target on the stock. Royal Bank Of Canada raised shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. UBS AG lifted their price target on shares of Arista Networks from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. KeyCorp reissued a “buy” rating on shares of Arista Networks in a research report on Friday, November 3rd. Finally, Cowen and Company reissued a “buy” rating and issued a $200.00 price objective on shares of Arista Networks in a research report on Friday, November 3rd. Fifteen investment 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. Arista Networks currently has a consensus rating of “Buy” and a consensus target price of $184.69.

In other news, insider Ita M. Brennan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $175.00, for a total value of $875,000.00. Following the completion of the sale, the insider now owns 21,079 shares of the company’s stock, valued at $3,688,825. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $176.09, for a total transaction of $352,180.00. Following the completion of the sale, the senior vice president now directly owns 13,002 shares of the company’s stock, valued at approximately $2,289,522.18. The disclosure for this sale can be found here. In the last three months, insiders sold 202,962 shares of company stock valued at $42,475,487. 28.09% of the stock is currently owned by company insiders.

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.

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

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