Asset Management One Co. Ltd. Purchases 2,249 Shares of Arista Networks, Inc. (NYSE:ANET)

Asset Management One Co. Ltd. increased its position in Arista Networks, Inc. (NYSE:ANET) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,183 shares of the technology company’s stock after acquiring an additional 2,249 shares during the period. Asset Management One Co. Ltd.’s holdings in Arista Networks were worth $48,815,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. UniSuper Management Pty Ltd grew its holdings in Arista Networks by 20.3% during the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after purchasing an additional 6,133 shares during the period. Central Pacific Bank Trust Division bought a new stake in Arista Networks during the first quarter valued at about $1,405,000. M&G Plc purchased a new position in shares of Arista Networks in the first quarter valued at about $3,238,000. Nordea Investment Management AB lifted its position in shares of Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after acquiring an additional 6,578 shares in the last quarter. Finally, GW Henssler & Associates Ltd. lifted its position in shares of Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group boosted their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group boosted their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Citigroup boosted their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $373.88.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Kenneth Duda sold 1,592 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $349.55, for a total value of $556,483.60. Following the transaction, the senior vice president now owns 186,600 shares in the company, valued at $65,226,030. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock worth $20,099,338 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET traded up $2.66 during mid-day trading on Monday, reaching $396.83. 118,613 shares of the company’s stock traded hands, compared to its average volume of 2,190,638. Arista Networks, Inc. has a 12 month low of $203.19 and a 12 month high of $422.73. The stock has a market cap of $124.66 billion, a P/E ratio of 51.12, a P/E/G ratio of 3.40 and a beta of 1.08. The stock’s 50-day moving average is $376.13 and its two-hundred day moving average is $339.82.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.