Mckinley Capital Management LLC Delaware lowered its stake in Arista Networks Inc (NYSE:ANET) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,808 shares of the technology company’s stock after selling 1,205 shares during the period. Arista Networks makes up approximately 1.5% of Mckinley Capital Management LLC Delaware’s portfolio, making the stock its 25th biggest holding. Mckinley Capital Management LLC Delaware owned about 0.12% of Arista Networks worth $23,079,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Redpoint Investment Management Pty Ltd raised its holdings in shares of Arista Networks by 38.3% in the third quarter. Redpoint Investment Management Pty Ltd now owns 1,383 shares of the technology company’s stock worth $368,000 after acquiring an additional 383 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Arista Networks by 56.3% in the third quarter. Rhumbline Advisers now owns 94,562 shares of the technology company’s stock worth $25,140,000 after acquiring an additional 34,070 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Arista Networks by 1,172.1% in the third quarter. Prudential Financial Inc. now owns 109,288 shares of the technology company’s stock worth $29,055,000 after acquiring an additional 100,697 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Arista Networks by 6.7% in the third quarter. Candriam Luxembourg S.C.A. now owns 93,046 shares of the technology company’s stock worth $24,737,000 after acquiring an additional 5,870 shares during the last quarter. Finally, Highstreet Asset Management Inc. raised its holdings in shares of Arista Networks by 74.5% in the third quarter. Highstreet Asset Management Inc. now owns 3,045 shares of the technology company’s stock worth $810,000 after acquiring an additional 1,300 shares during the last quarter. 53.94% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Kenneth Duda sold 11,000 shares of Arista Networks stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $229.24, for a total value of $2,521,640.00. Following the transaction, the senior vice president now directly owns 2,664 shares in the company, valued at $610,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andreas Bechtolsheim sold 31,917 shares of Arista Networks stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $303.00, for a total value of $9,670,851.00. Following the sale, the insider now directly owns 4,144 shares in the company, valued at $1,255,632. The disclosure for this sale can be found here. Insiders have sold 216,021 shares of company stock valued at $63,784,085 over the last 90 days. 24.95% of the stock is currently owned by insiders.

ANET has been the subject of several analyst reports. Deutsche Bank reiterated a “sell” rating and issued a $180.00 target price on shares of Arista Networks in a research note on Monday, September 10th. William Blair reiterated an “outperform” rating on shares of Arista Networks in a research note on Monday, September 17th. Goldman Sachs Group lowered Arista Networks from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Morgan Stanley lowered Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 target price for the company. in a research note on Tuesday, September 4th. Finally, JPMorgan Chase & Co. upped their target price on Arista Networks from $282.00 to $287.00 and gave the company a “hold” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Arista Networks currently has a consensus rating of “Buy” and an average price target of $293.48.

Shares of NYSE:ANET opened at $229.49 on Thursday. The stock has a market cap of $17.85 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 1.62 and a beta of 1.56. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02. Arista Networks Inc has a 12 month low of $206.86 and a 12 month high of $313.37.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported $1.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.21. The company had revenue of $563.31 million during the quarter, compared to analyst estimates of $548.81 million. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. Research analysts predict that Arista Networks Inc will post 6.84 EPS for the current fiscal year.

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About Arista Networks

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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

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