Great West Life Assurance Co. Can increased its stake in Arista Networks, Inc. (NYSE:ANET) by 72.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,848 shares of the technology company’s stock after purchasing an additional 11,282 shares during the period. Great West Life Assurance Co. Can’s holdings in Arista Networks were worth $5,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares during the period. LS Investment Advisors LLC acquired a new stake in Arista Networks during the 2nd quarter valued at approximately $119,000. D.A. Davidson & CO. lifted its stake in Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after acquiring an additional 30 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Arista Networks during the 3rd quarter valued at approximately $151,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Arista Networks during the 2nd quarter valued at approximately $202,000. Institutional investors own 58.20% of the company’s stock.

Shares of Arista Networks, Inc. (NYSE:ANET) opened at $222.79 on Friday. Arista Networks, Inc. has a 1-year low of $87.33 and a 1-year high of $245.65. The stock has a market cap of $16,071.91, a price-to-earnings ratio of 52.85, a PEG ratio of 2.00 and a beta of 1.38. The company has a current ratio of 3.66, a quick ratio of 3.07 and a debt-to-equity ratio of 0.03.

Several equities analysts have recently weighed in on ANET shares. JMP Securities lifted their target price on shares of Arista Networks from $185.00 to $230.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. Deutsche Bank reaffirmed a “buy” rating and set a $210.00 target price (up from $185.00) on shares of Arista Networks in a report on Monday, October 9th. BMO Capital Markets lifted their target price on shares of Arista Networks from $190.00 to $205.00 and gave the company a “market perform” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. BidaskClub raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Finally, Royal Bank Of Canada raised shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a report on Wednesday, November 8th. Sixteen investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $192.55.

In other news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $230.09, for a total transaction of $460,180.00. Following the transaction, the senior vice president now owns 12,335 shares of the company’s stock, valued at approximately $2,838,160.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 7,775 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $194.12, for a total transaction of $1,509,283.00. The disclosure for this sale can be found here. Insiders have sold 495,012 shares of company stock valued at $111,840,635 in the last ninety days. Insiders own 28.09% of the company’s stock.

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About Arista Networks

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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