Commerce Bank trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,457 shares of the technology company’s stock after selling 1,115 shares during the quarter. Commerce Bank’s holdings in Arista Networks were worth $1,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of 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 buying an additional 126 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in shares of Arista Networks during the 2nd quarter valued at about $119,000. D.A. Davidson & CO. raised its position in shares of 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 buying an additional 30 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Arista Networks during the 3rd quarter valued at about $151,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Arista Networks during the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Several equities analysts recently commented on ANET shares. JMP Securities upped their price target 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 AG reiterated a “buy” rating and set a $210.00 price target (up from $185.00) on shares of Arista Networks in a report on Monday, October 9th. BMO Capital Markets upped their price target 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 upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Finally, Zacks Investment Research downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Sixteen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks presently has an average rating of “Buy” and a consensus price target of $187.21.

Arista Networks, Inc. (NYSE ANET) traded up $2.05 during trading hours on Friday, reaching $233.82. 581,244 shares of the company were exchanged, compared to its average volume of 1,011,014. Arista Networks, Inc. has a 12 month low of $87.33 and a 12 month high of $234.63. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The stock has a market capitalization of $17,092.48, a PE ratio of 56.21, a price-to-earnings-growth ratio of 2.16 and a beta of 1.31.

In related news, SVP Marc Taxay sold 7,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $211.39, for a total transaction of $1,479,730.00. Following the completion of the sale, the senior vice president now owns 16,002 shares of the company’s stock, valued at $3,382,662.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jayshree Ullal sold 72,443 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $225.96, for a total transaction of $16,369,220.28. Following the sale, the insider now directly owns 3,564 shares of the company’s stock, valued at approximately $805,321.44. The disclosure for this sale can be found here. Insiders have sold 275,405 shares of company stock valued at $58,844,707 in the last three months. 28.09% of the stock is currently owned by corporate insiders.

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Arista Networks Company Profile

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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