Calton & Associates Inc. bought a new position in shares of Arista Networks Inc (NYSE:ANET) in the 4th quarter, Holdings Channel reports. The fund bought 1,990 shares of the technology company’s stock, valued at approximately $543,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ANET. Hermes Investment Management Ltd. bought a new stake in shares of Arista Networks during the third quarter worth about $7,316,000. Sapphire Star Partners LP grew its holdings in shares of Arista Networks by 56.9% during the third quarter. Sapphire Star Partners LP now owns 3,452 shares of the technology company’s stock worth $654,000 after purchasing an additional 1,252 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Arista Networks by 8.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,562 shares of the technology company’s stock worth $27,031,000 after purchasing an additional 10,593 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Arista Networks during the third quarter worth about $2,785,000. Finally, CIBC Asset Management Inc grew its holdings in shares of Arista Networks by 28.7% during the third quarter. CIBC Asset Management Inc now owns 2,802 shares of the technology company’s stock worth $531,000 after purchasing an additional 624 shares during the last quarter. 58.11% of the stock is owned by hedge funds and other institutional investors.

In other Arista Networks news, insider Jayshree Ullal sold 73,620 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $220.31, for a total value of $16,219,222.20. Following the transaction, the insider now directly owns 3,564 shares of the company’s stock, valued at $785,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ita M. Brennan sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $229.97, for a total value of $804,895.00. Following the completion of the transaction, the insider now directly owns 17,677 shares in the company, valued at $4,065,179.69. The disclosure for this sale can be found here. Insiders sold 531,746 shares of company stock worth $124,599,246 over the last quarter. 28.09% of the stock is currently owned by company insiders.

Shares of Arista Networks Inc (NYSE ANET) opened at $272.38 on Wednesday. Arista Networks Inc has a twelve month low of $95.01 and a twelve month high of $284.76. The company has a market capitalization of $19,398.72, a P/E ratio of 63.79, a P/E/G ratio of 2.04 and a beta of 1.47. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03.

Several analysts have recently weighed in on the company. DA Davidson upgraded Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Friday, November 3rd. Piper Jaffray Companies assumed coverage on Arista Networks in a report on Monday, November 13th. They set a “neutral” rating and a $230.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $217.00 price target (up from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. Stifel Nicolaus restated a “buy” rating and set a $270.00 price target on shares of Arista Networks in a report on Thursday, December 14th. Finally, Royal Bank of Canada boosted their price target on Arista Networks from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, November 3rd. Sixteen equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $216.59.

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Arista Networks Company 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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