CIBC Asset Management Inc increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 28.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,802 shares of the technology company’s stock after purchasing an additional 624 shares during the period. CIBC Asset Management Inc’s holdings in Arista Networks were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Private Wealth Partners LLC grew its stake in Arista Networks by 9.5% in the third quarter. Private Wealth Partners LLC now owns 7,278 shares of the technology company’s stock valued at $1,380,000 after acquiring an additional 634 shares during the period. Sei Investments Co. lifted its holdings in shares of Arista Networks by 8.8% in the third quarter. Sei Investments Co. now owns 71,834 shares of the technology company’s stock valued at $13,610,000 after purchasing an additional 5,823 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Arista Networks in the third quarter valued at approximately $151,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Arista Networks by 38.5% in the third quarter. BNP Paribas Arbitrage SA now owns 12,924 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 3,591 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Arista Networks by 2.5% in the third quarter. Swiss National Bank now owns 172,600 shares of the technology company’s stock valued at $32,727,000 after purchasing an additional 4,200 shares in the last quarter. 59.73% of the stock is owned by institutional investors and hedge funds.

Shares of Arista Networks, Inc. (NYSE:ANET) opened at $233.82 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.66. Arista Networks, Inc. has a 52 week low of $87.33 and a 52 week high of $234.63. The stock has a market capitalization of $17,090.00, a PE ratio of 56.21, a price-to-earnings-growth ratio of 2.16 and a beta of 1.31.

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In other news, insider Anshul Sadana sold 12,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $189.95, for a total value of $2,279,400.00. Following the completion of the sale, the insider now owns 86,788 shares of the company’s stock, valued at approximately $16,485,380.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 directly owns 21,079 shares of the company’s stock, valued at approximately $3,688,825. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,405 shares of company stock valued at $58,844,707. Corporate insiders own 28.09% of the company’s stock.

A number of research analysts have recently weighed in on the company. Needham & Company LLC raised their target price on Arista Networks from $217.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company assumed coverage on Arista Networks in a report on Tuesday, November 14th. They issued a “market perform” rating and a $235.00 target price on the stock. Piper Jaffray Companies assumed coverage on Arista Networks in a report on Monday, November 13th. They issued a “neutral” rating and a $230.00 target price on the stock. Royal Bank Of Canada upgraded Arista Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Finally, KeyCorp restated a “buy” rating on shares of Arista Networks in a report on Friday, November 3rd. Sixteen equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $187.21.

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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