Bessemer Group Inc. Has $3.71 Million Position in Arista Networks, Inc. $ANET

Bessemer Group Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 17.3% during the third quarter, HoldingsChannel reports. The fund owned 25,467 shares of the technology company’s stock after purchasing an additional 3,749 shares during the quarter. Bessemer Group Inc.’s holdings in Arista Networks were worth $3,712,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Arista Networks during the 2nd quarter valued at about $1,228,177,000. Massachusetts Financial Services Co. MA lifted its stake in Arista Networks by 2,829.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after acquiring an additional 5,525,828 shares during the last quarter. Nordea Investment Management AB grew its position in Arista Networks by 193.3% in the second quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after acquiring an additional 4,656,021 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Arista Networks during the 2nd quarter worth $247,451,000. Finally, Schroder Investment Management Group raised its holdings in shares of Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the sale, the director owned 8,980 shares in the company, valued at approximately $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 216,464 shares of company stock valued at $27,553,548 over the last ninety days. 3.39% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays reiterated an “overweight” rating and issued a $183.00 price objective (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Morgan Stanley decreased their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a report on Monday, November 24th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Stock Up 6.9%

Shares of NYSE:ANET opened at $137.50 on Friday. The business has a 50 day moving average price of $131.78 and a 200 day moving average price of $136.12. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market cap of $173.15 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 2.32 and a beta of 1.42.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.