Arista Networks, Inc. (NYSE:ANET) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in Arista Networks, Inc. (NYSE:ANETGet Rating) by 55.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 375,880 shares of the technology company’s stock after acquiring an additional 134,849 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Arista Networks worth $42,650,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in Arista Networks by 17.0% in the second quarter. Cerity Partners LLC now owns 4,097 shares of the technology company’s stock valued at $385,000 after acquiring an additional 594 shares during the period. Woodline Partners LP acquired a new position in shares of Arista Networks during the 2nd quarter worth approximately $11,896,000. Allspring Global Investments Holdings LLC raised its stake in shares of Arista Networks by 15.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 275,905 shares of the technology company’s stock worth $31,146,000 after buying an additional 36,516 shares during the period. Diversified Trust Co raised its stake in shares of Arista Networks by 16.0% during the 3rd quarter. Diversified Trust Co now owns 4,896 shares of the technology company’s stock worth $553,000 after buying an additional 675 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Arista Networks by 26.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 292,806 shares of the technology company’s stock worth $27,447,000 after buying an additional 61,942 shares during the period. 64.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $125.94, for a total value of $251,880.00. Following the transaction, the director now owns 94,946 shares of the company’s stock, valued at approximately $11,957,499.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $125.94, for a total transaction of $251,880.00. Following the transaction, the director now owns 94,946 shares of the company’s stock, valued at approximately $11,957,499.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $120.38, for a total value of $125,195.20. The disclosure for this sale can be found here. Insiders have sold a total of 91,171 shares of company stock valued at $11,613,443 in the last quarter. Insiders own 19.59% of the company’s stock.

Arista Networks Stock Up 2.2 %

Shares of NYSE:ANET opened at $121.77 on Wednesday. Arista Networks, Inc. has a 52-week low of $89.11 and a 52-week high of $143.57. The business has a fifty day moving average of $124.58 and a two-hundred day moving average of $119.65. The stock has a market cap of $37.21 billion, a P/E ratio of 33.18, a PEG ratio of 1.44 and a beta of 1.30.

Arista Networks (NYSE:ANETGet Rating) last announced its quarterly earnings results on Monday, October 31st. The technology company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.91 by $0.22. Arista Networks had a return on equity of 27.23% and a net margin of 29.63%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The company’s quarterly revenue was up 57.2% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks, Inc. will post 3.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. Rosenblatt Securities upped their target price on Arista Networks from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, November 21st. Bank of America upgraded Arista Networks from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $150.00 in a research report on Tuesday, November 1st. UBS Group boosted their price target on Arista Networks to $135.00 in a research report on Friday, November 4th. Credit Suisse Group boosted their price target on Arista Networks from $119.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, November 7th. Finally, StockNews.com initiated coverage on Arista Networks in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.79.

Arista Networks Profile

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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.

See Also

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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