Varma Mutual Pension Insurance Co Raises Stake in Arista Networks, Inc. $ANET

Varma Mutual Pension Insurance Co boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 8.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,300 shares of the technology company’s stock after purchasing an additional 14,600 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Arista Networks were worth $26,563,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Arista Networks by 1.0% in the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Arista Networks by 0.5% in the second quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after acquiring an additional 128,977 shares during the last quarter. Norges Bank bought a new position in shares of Arista Networks during the second quarter valued at $1,228,177,000. Finally, Schroder Investment Management Group increased its holdings in shares of Arista Networks by 14.8% during the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after acquiring an additional 1,350,593 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total value of $3,339,180.00. Following the completion of the transaction, the insider owned 522,400 shares in the company, valued at approximately $67,091,832. This trade represents a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 216,464 shares of company stock worth $27,553,548. Company insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ANET. Morgan Stanley dropped their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. UBS Group reiterated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Finally, Rosenblatt Securities boosted their price objective on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.00.

Arista Networks Stock Down 1.7%

Shares of ANET stock opened at $140.96 on Thursday. The company has a 50 day moving average price of $132.65 and a 200-day moving average price of $136.71. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The firm has a market capitalization of $177.51 billion, a PE ratio of 53.60, a P/E/G ratio of 2.42 and a beta of 1.42.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.