Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 322.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,323,157 shares of the technology company’s stock after acquiring an additional 1,773,777 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arista Networks were worth $259,557,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ANET. State Street Corp boosted its position in shares of Arista Networks by 3.8% during the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares in the last quarter. Swedbank AB boosted its holdings in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC increased its stake in Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. Geode Capital Management LLC raised its holdings in Arista Networks by 4.2% during the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after purchasing an additional 236,151 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after buying an additional 3,496,497 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ANET shares. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. UBS Group upped their target price on Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barclays cut their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Rosenblatt Securities raised their target price on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

View Our Latest Stock Report on ANET

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 71,036 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.06, for a total value of $7,107,506.98. Following the transaction, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $116.82 on Wednesday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The firm has a market capitalization of $147.16 billion, a P/E ratio of 56.16, a PEG ratio of 3.10 and a beta of 1.09. The company’s fifty day moving average is $113.57 and its two-hundred day moving average is $100.33.

Arista Networks Profile

(Free Report)

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.

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

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