Roberts Glore & Co. Inc. IL Trims Position in Arista Networks, Inc. (ANET)
Roberts Glore & Co. Inc. IL lessened its position in shares of Arista Networks, Inc. (NYSE:ANET) by 28.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,125 shares of the technology company’s stock after selling 850 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Arista Networks were worth $403,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ANET. PNC Financial Services Group Inc. increased its position in Arista Networks by 20.5% during the second quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in Arista Networks in the second quarter worth about $119,000. D.A. Davidson & CO. increased its position 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 buying an additional 30 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Arista Networks in the third quarter worth about $151,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Arista Networks in the second quarter worth about $202,000. Institutional investors own 59.21% of the company’s stock.
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A number of analysts have commented on ANET shares. JMP Securities upped their price target on Arista Networks from $185.00 to $230.00 and gave the stock a “market perform” rating in a research report on Thursday, October 26th. Deutsche Bank AG restated a “buy” rating and issued a $210.00 price target (up previously from $185.00) on shares of Arista Networks in a research report on Monday, October 9th. BMO Capital Markets upped their price target on Arista Networks from $190.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Saturday, September 23rd. Finally, Zacks Investment Research cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Sixteen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $187.21.
Arista Networks, Inc. (NYSE:ANET) traded up $2.05 during trading hours on Friday, hitting $233.82. The stock had a trading volume of 581,244 shares, compared to its average volume of 1,011,014. The company has a market cap of $17,092.48, a price-to-earnings ratio of 56.21, a price-to-earnings-growth ratio of 2.16 and a beta of 1.31. Arista Networks, Inc. has a 1-year low of $87.33 and a 1-year high of $234.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07.
In other news, insider Anshul Sadana sold 12,000 shares of the firm’s stock in a transaction that occurred on 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 directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Jayshree Ullal sold 81,380 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $211.89, for a total value of $17,243,608.20. Following the completion of the sale, the insider now directly owns 3,564 shares of the company’s stock, valued at $755,175.96. The disclosure for this sale can be found here. Insiders sold a total of 275,405 shares of company stock valued at $58,844,707 over the last ninety days. 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.
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