Gulf International Bank UK Ltd Decreases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Gulf International Bank UK Ltd decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 24.3% in the third quarter, Holdings Channel reports. The firm owned 20,749 shares of the technology company’s stock after selling 6,653 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Arista Networks were worth $7,963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. GQG Partners LLC purchased a new stake in Arista Networks during the first quarter valued at $881,848,000. Legal & General Group Plc lifted its stake in shares of Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares during the period. Swedbank AB purchased a new position in shares of Arista Networks in the first quarter worth approximately $521,767,000. Ameriprise Financial Inc. grew its position in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares during the period. Finally, TD Asset Management Inc raised its position in Arista Networks by 18.7% in the first quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after acquiring an additional 148,759 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their price objective on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their target price on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Arista Networks Trading Up 0.2 %

Arista Networks stock opened at $394.88 on Tuesday. The firm has a market capitalization of $124.05 billion, a PE ratio of 51.22, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $203.19 and a 12-month high of $422.73. The firm has a 50-day moving average price of $377.14 and a 200-day moving average price of $340.79.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $6,264,201.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kenneth Duda sold 1,689 shares of Arista Networks stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the transaction, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $20,029,349 in the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.