Rockefeller Capital Management L.P. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,670 shares of the technology company’s stock after purchasing an additional 97 shares during the period. Rockefeller Capital Management L.P.’s holdings in Arista Networks were worth $917,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fort L.P. grew its holdings in shares of Arista Networks by 18.3% during the 2nd quarter. Fort L.P. now owns 3,672 shares of the technology company’s stock valued at $1,330,000 after acquiring an additional 569 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Arista Networks by 1,179.6% during the 2nd quarter. Marshall Wace LLP now owns 18,580 shares of the technology company’s stock valued at $6,732,000 after acquiring an additional 17,128 shares in the last quarter. Toroso Investments LLC grew its holdings in shares of Arista Networks by 12.4% during the 2nd quarter. Toroso Investments LLC now owns 779 shares of the technology company’s stock valued at $282,000 after acquiring an additional 86 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of Arista Networks during the 2nd quarter valued at $8,938,000. Finally, Seeyond grew its holdings in shares of Arista Networks by 0.4% during the 2nd quarter. Seeyond now owns 7,662 shares of the technology company’s stock valued at $2,776,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 15.51% of the company’s stock.
Several research firms have recently commented on ANET. Wells Fargo & Company boosted their price target on shares of Arista Networks from $93.75 to $122.50 and gave the company an “equal weight” rating in a report on Tuesday, November 2nd. JMP Securities upped their price objective on shares of Arista Networks from $103.75 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, November 2nd. Barclays upped their price objective on shares of Arista Networks from $94.50 to $112.75 and gave the stock an “equal weight” rating in a report on Tuesday, November 2nd. Cleveland Research upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating in a report on Friday, December 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $147.50 to $150.00 and gave the stock a “neutral” rating in a report on Monday, December 13th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Buy” and a consensus price target of $124.17.
In other news, Director Charles H. Giancarlo sold 6,660 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $122.62, for a total transaction of $816,649.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,000 shares of the company’s stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $530.50, for a total transaction of $12,732,000.00. The disclosure for this sale can be found here. Insiders have sold 829,800 shares of company stock valued at $152,313,158 in the last ninety days. 22.01% of the stock is owned by company insiders.
Arista Networks stock opened at $122.32 on Friday. The firm has a fifty day moving average price of $130.14 and a two-hundred day moving average price of $113.52. The firm has a market cap of $37.59 billion, a price-to-earnings ratio of 49.62, a P/E/G ratio of 2.46 and a beta of 1.25. Arista Networks, Inc. has a fifty-two week low of $65.52 and a fifty-two week high of $148.57.
About Arista Networks
Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
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