Livforsakringsbolaget Skandia Omsesidigt Purchases 166 Shares of Arista Networks, Inc. (NYSE:ANET)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Arista Networks, Inc. (NYSE:ANET) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,366 shares of the technology company’s stock after buying an additional 166 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Arista Networks were worth $5,737,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ANET. Vanguard Group Inc. increased its stake in Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after purchasing an additional 84,212 shares in the last quarter. FMR LLC boosted its position in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares during the period. State Street Corp boosted its position in Arista Networks by 3.2% during the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after buying an additional 313,036 shares during the period. Morgan Stanley lifted its position in shares of Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after purchasing an additional 3,432,952 shares during the period. Finally, Geode Capital Management LLC lifted its position in Arista Networks by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after acquiring an additional 91,829 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ANET. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley increased their price target on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Down 1.3 %

Shares of ANET stock traded down $3.34 during trading on Wednesday, reaching $259.42. The company’s stock had a trading volume of 2,525,495 shares, compared to its average volume of 2,457,489. The business has a fifty day moving average price of $281.54 and a 200-day moving average price of $243.95. The company has a market cap of $81.10 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Research analysts anticipate that Arista Networks, Inc. will post 6.67 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now directly owns 2,678 shares of the company’s stock, valued at $700,055.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total value of $4,796,769.60. Following the transaction, the chief executive officer now directly owns 82,766 shares in the company, valued at $21,320,521.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the transaction, the director now owns 2,678 shares in the company, valued at $700,055.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 361,036 shares of company stock valued at $102,813,921. 18.99% of the stock is currently owned by corporate 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.