Riverhead Capital Management LLC boosted its position in shares of Arista Networks Inc (NYSE:ANET) by 36.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,408 shares of the technology company’s stock after buying an additional 3,880 shares during the quarter. Riverhead Capital Management LLC’s holdings in Arista Networks were worth $3,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ANET. Principal Financial Group Inc. raised its holdings in Arista Networks by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 8,202 shares of the technology company’s stock valued at $2,094,000 after buying an additional 361 shares during the last quarter. Bank of Montreal Can raised its holdings in Arista Networks by 18.1% in the 2nd quarter. Bank of Montreal Can now owns 7,785 shares of the technology company’s stock worth $2,005,000 after purchasing an additional 1,192 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in Arista Networks in the 2nd quarter worth $337,000. Aperio Group LLC raised its holdings in Arista Networks by 60.6% in the 2nd quarter. Aperio Group LLC now owns 17,889 shares of the technology company’s stock worth $4,606,000 after purchasing an additional 6,751 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Arista Networks by 196.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,810 shares of the technology company’s stock worth $4,071,000 after purchasing an additional 10,474 shares in the last quarter. Institutional investors own 58.54% of the company’s stock.

In related news, insider Anshul Sadana sold 1,197 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $235.00, for a total transaction of $281,295.00. Following the sale, the insider now directly owns 1,414 shares of the company’s stock, valued at approximately $332,290. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 11,000 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $267.49, for a total transaction of $2,942,390.00. Following the sale, the senior vice president now directly owns 2,664 shares in the company, valued at $712,593.36. The disclosure for this sale can be found here. Insiders sold a total of 43,241 shares of company stock worth $10,545,875 over the last ninety days. Insiders own 24.95% of the company’s stock.

Several research analysts have commented on ANET shares. Morgan Stanley lowered shares of Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a report on Tuesday, September 4th. Deutsche Bank restated a “sell” rating and issued a $180.00 price objective on shares of Arista Networks in a report on Monday, September 10th. William Blair restated an “outperform” rating on shares of Arista Networks in a report on Monday, September 17th. Berenberg Bank set a $350.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a report on Wednesday, September 19th. Finally, UBS Group started coverage on shares of Arista Networks in a report on Wednesday, September 26th. They issued a “neutral” rating and a $290.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $295.40.

NYSE:ANET opened at $239.53 on Friday. The stock has a market capitalization of $17.33 billion, a PE ratio of 51.51, a price-to-earnings-growth ratio of 1.58 and a beta of 1.56. The company has a current ratio of 4.51, a quick ratio of 4.11 and a debt-to-equity ratio of 0.02. Arista Networks Inc has a 1-year low of $210.55 and a 1-year high of $313.37.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 1st. The technology company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.21. The firm had revenue of $563.31 million for the quarter, compared to the consensus estimate of $548.81 million. Arista Networks had a net margin of 28.05% and a return on equity of 29.06%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 EPS. On average, analysts forecast that Arista Networks Inc will post 6.84 EPS for the current fiscal year.

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Arista Networks Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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

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