Affinity Wealth Management Grows Stake in Arista Networks, Inc. (ANET)

Affinity Wealth Management grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,734 shares of the technology company’s stock after purchasing an additional 576 shares during the quarter. Arista Networks makes up approximately 0.3% of Affinity Wealth Management’s holdings, making the stock its 28th biggest position. Affinity Wealth Management’s holdings in Arista Networks were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of Arista Networks by 167.8% during the 3rd quarter. Janus Henderson Group PLC now owns 371,915 shares of the technology company’s stock valued at $70,519,000 after purchasing an additional 233,039 shares during the last quarter. Jackson Square Partners LLC grew its stake in shares of Arista Networks by 4.1% during the 3rd quarter. Jackson Square Partners LLC now owns 265,024 shares of the technology company’s stock valued at $50,251,000 after acquiring an additional 10,319 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Arista Networks by 7.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 73,790 shares of the technology company’s stock valued at $13,977,000 after acquiring an additional 5,365 shares during the period. AMP Capital Investors Ltd grew its stake in shares of Arista Networks by 122.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 22,351 shares of the technology company’s stock valued at $4,238,000 after acquiring an additional 12,300 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of Arista Networks by 30.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 382,729 shares of the technology company’s stock valued at $72,570,000 after acquiring an additional 88,504 shares during the period. 58.22% of the stock is owned by hedge funds and other institutional investors.

Arista Networks, Inc. (NYSE:ANET) opened at $222.79 on Monday. Arista Networks, Inc. has a 52 week low of $87.33 and a 52 week high of $245.65. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $16,286.09, a P/E ratio of 53.56, a price-to-earnings-growth ratio of 2.02 and a beta of 1.38.

A number of research analysts recently issued reports on ANET shares. BidaskClub upgraded Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Royal Bank Of Canada upgraded Arista Networks from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. JMP Securities boosted their price objective on Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “buy” rating on shares of Arista Networks in a research note on Friday, November 3rd. Finally, Cowen reiterated a “buy” rating and set a $200.00 price objective on shares of Arista Networks in a research note on Friday, November 3rd. Fifteen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Arista Networks has a consensus rating of “Buy” and a consensus price target of $192.55.

In other news, insider Ita M. Brennan sold 3,500 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $229.97, for a total transaction of $804,895.00. Following the completion of the transaction, the insider now directly owns 17,677 shares in the company, valued at approximately $4,065,179.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anshul Sadana sold 12,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $189.95, for a total value of $2,279,400.00. Following the transaction, the insider now owns 86,788 shares of the company’s stock, valued at $16,485,380.60. The disclosure for this sale can be found here. Insiders sold a total of 486,325 shares of company stock valued at $110,320,931 over the last 90 days. 28.09% of the stock is currently owned by corporate insiders.

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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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