BNP Paribas Arbitrage SA raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 38.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,924 shares of the technology company’s stock after acquiring an additional 3,591 shares during the period. BNP Paribas Arbitrage SA’s holdings in Arista Networks were worth $2,451,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Hermes Investment Management Ltd. acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $7,316,000. Sapphire Star Partners LP raised its position in Arista Networks by 56.9% during the third quarter. Sapphire Star Partners LP now owns 3,452 shares of the technology company’s stock valued at $654,000 after purchasing an additional 1,252 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Arista Networks by 13.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 65,336 shares of the technology company’s stock valued at $9,787,000 after purchasing an additional 7,827 shares in the last quarter. Federated Investors Inc. PA acquired a new position in Arista Networks during the second quarter valued at approximately $3,090,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in Arista Networks by 105.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 17,472 shares of the technology company’s stock valued at $2,617,000 after purchasing an additional 8,959 shares in the last quarter. Institutional investors own 59.73% of the company’s stock.

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Arista Networks, Inc. (NYSE ANET) opened at $241.43 on Wednesday. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. Arista Networks, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $245.65. The company has a market cap of $17,650.00, a price-to-earnings ratio of 58.13, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31.

Several research analysts have commented on ANET shares. JMP Securities boosted their price objective on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research report on Thursday, October 26th. Deutsche Bank AG reiterated a “buy” rating and set a $210.00 price target (up from $185.00) on shares of Arista Networks in a report on Monday, October 9th. BMO Capital Markets upped their price target on shares of Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Finally, Zacks Investment Research downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Sixteen investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $187.21.

In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $176.09, for a total transaction of $352,180.00. Following the sale, the senior vice president now owns 13,002 shares in the company, valued at approximately $2,289,522.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jayshree Ullal sold 81,380 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $211.89, for a total transaction of $17,243,608.20. Following the sale, the insider now owns 3,564 shares in the company, valued at approximately $755,175.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 322,962 shares of company stock worth $70,153,471. Corporate insiders own 28.09% of the company’s stock.

About Arista Networks

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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