Livforsakringsbolaget Skandia Omsesidigt Grows Position in Arista Networks, Inc. (NYSE:ANET)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other institutional investors also recently modified their holdings of ANET. Larson Financial Group LLC purchased a new stake in shares of Arista Networks during the third quarter valued at $28,000. First Command Advisory Services Inc. purchased a new position in Arista Networks in the third quarter worth about $29,000. Hollencrest Capital Management purchased a new position in Arista Networks in the first quarter worth about $30,000. BluePath Capital Management LLC purchased a new position in Arista Networks in the third quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new position in Arista Networks in the third quarter worth about $33,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 18,621 shares of the business’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 owns 82,766 shares of the company’s stock, valued at approximately $21,320,521.60. The disclosure for this sale can be found here. Insiders sold 361,036 shares of company stock worth $102,813,921 in the last quarter. 18.99% of the stock is owned by corporate insiders.

Arista Networks Trading Down 1.3 %

ANET traded down $3.34 on Wednesday, hitting $259.42. 2,525,495 shares of the company’s stock traded hands, compared to its average volume of 2,457,489. The company’s 50 day simple moving average is $281.54 and its 200-day simple moving average is $243.95. The firm has a market cap of $81.10 billion, a price-to-earnings ratio of 40.00, a P/E/G 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 released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 6.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the topic of several research reports. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a research report on Wednesday, March 27th. KeyCorp raised their price objective on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. The Goldman Sachs Group raised their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks 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.