Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 49.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,959 shares of the technology company’s stock after acquiring an additional 43,410 shares during the quarter. Handelsbanken Fonder AB’s holdings in Arista Networks were worth $31,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC boosted its position in shares of Arista Networks by 12.6% during the 4th quarter. CWM LLC now owns 14,833 shares of the technology company’s stock valued at $3,493,000 after acquiring an additional 1,664 shares during the last quarter. Strata Wealth Advisors LLC purchased a new stake in Arista Networks in the 4th quarter valued at about $1,849,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Arista Networks by 0.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,148 shares of the technology company’s stock valued at $5,687,000 after buying an additional 216 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Arista Networks by 3.9% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,237 shares of the technology company’s stock valued at $9,476,000 after buying an additional 1,499 shares during the period. Finally, Signaturefd LLC raised its holdings in Arista Networks by 5.8% in the 4th quarter. Signaturefd LLC now owns 6,315 shares of the technology company’s stock valued at $1,487,000 after buying an additional 348 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Monday, January 8th. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. KeyCorp boosted their price target on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Finally, Barclays boosted their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $275.59.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 733 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $268.15, for a total value of $196,553.95. Following the completion of the transaction, the chief executive officer now directly owns 74,031 shares of the company’s stock, valued at $19,851,412.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s 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 directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 733 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $268.15, for a total value of $196,553.95. Following the completion of the transaction, the chief executive officer now directly owns 74,031 shares of the company’s stock, valued at $19,851,412.65. The disclosure for this sale can be found here. Insiders sold 334,227 shares of company stock valued at $95,828,875 over the last three months. 18.99% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

ANET stock opened at $246.09 on Monday. The company’s 50 day moving average price is $280.29 and its 200 day moving average price is $245.38. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm has a market capitalization of $76.94 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 2.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

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.