Arista Networks, Inc. (NYSE:ANET) Stock Holdings Lifted by Andra AP fonden

Andra AP fonden raised its stake in Arista Networks, Inc. (NYSE:ANET) by 234.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 242,800 shares of the technology company’s stock after acquiring an additional 170,300 shares during the period. Andra AP fonden’s holdings in Arista Networks were worth $26,837,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the fourth quarter valued at $242,000. GHE LLC raised its stake in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC raised its stake in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management acquired a new stake in Arista Networks during the 4th quarter valued at $630,000. Finally, Silver Oak Securities Incorporated raised its stake in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ANET shares. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler restated a “neutral” rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

ANET stock opened at $84.33 on Friday. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The company has a 50-day moving average of $109.52 and a two-hundred day moving average of $102.02. The stock has a market capitalization of $106.35 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the transaction, the director now directly owns 147,784 shares of the company’s stock, valued at $13,157,209.52. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,289 shares of company stock worth $42,355,417 over the last ninety days. Company insiders own 3.54% of the company’s stock.

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.