Rhumbline Advisers lowered its position in Arista Networks, Inc. (NYSE:ANET) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,250 shares of the technology company’s stock after selling 2,274 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Arista Networks worth $11,424,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew 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 worth $111,000 after purchasing an additional 126 shares in the last quarter. LS Investment Advisors LLC bought a new position in Arista Networks in the second quarter worth approximately $119,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Arista Networks in the third quarter worth approximately $151,000. D.A. Davidson & CO. grew 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 worth $147,000 after purchasing an additional 30 shares in the last quarter. Finally, Empirical Finance LLC bought a new position in Arista Networks in the third quarter worth approximately $231,000. 59.73% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on ANET. UBS AG increased their target price on Arista Networks from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 target price (up previously from $167.00) on shares of Arista Networks in a research report on Friday, August 4th. J P Morgan Chase & Co raised Arista Networks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $144.00 to $186.00 in a research report on Friday, August 4th. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 31st. Finally, Argus reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. Sixteen 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’s stock. The company presently has an average rating of “Buy” and an average price target of $187.21.

In other Arista Networks news, SVP Kenneth Duda sold 8,687 shares of Arista Networks stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $174.94, for a total transaction of $1,519,703.78. Following the completion of the transaction, the senior vice president now owns 1,593 shares in the company, valued at approximately $278,679.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andreas Bechtolsheim sold 39,680 shares of Arista Networks stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $241.92, for a total value of $9,599,385.60. The disclosure for this sale can be found here. Insiders sold a total of 362,642 shares of company stock valued at $79,752,857 in the last 90 days. 28.09% of the stock is currently owned by company insiders.

Arista Networks, Inc. (NYSE ANET) opened at $242.06 on Friday. The stock has a market capitalization of $17,471.78, a price-to-earnings ratio of 57.45, a P/E/G ratio of 2.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. Arista Networks, Inc. has a 52 week low of $87.33 and a 52 week high of $245.65.

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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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