Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden raised its position in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 33.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,500 shares of the technology company’s stock after purchasing an additional 21,600 shares during the period. Forsta AP Fonden’s holdings in Arista Networks were worth $11,883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Arista Networks by 10.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 117,969 shares of the technology company’s stock valued at $16,395,000 after purchasing an additional 11,242 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of Arista Networks by 188.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,784 shares of the technology company’s stock worth $1,637,000 after acquiring an additional 7,700 shares during the period. Regal Investment Advisors LLC lifted its stake in shares of Arista Networks by 37.6% in the 1st quarter. Regal Investment Advisors LLC now owns 2,287 shares of the technology company’s stock worth $318,000 after acquiring an additional 625 shares during the period. Kavar Capital Partners Group LLC lifted its stake in shares of Arista Networks by 5.1% in the 1st quarter. Kavar Capital Partners Group LLC now owns 18,983 shares of the technology company’s stock worth $2,638,000 after acquiring an additional 923 shares during the period. Finally, Arete Wealth Advisors LLC lifted its stake in shares of Arista Networks by 5.4% in the 1st quarter. Arete Wealth Advisors LLC now owns 2,925 shares of the technology company’s stock worth $407,000 after acquiring an additional 150 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ANET. Evercore ISI upped their price target on shares of Arista Networks from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays reduced their price target on shares of Arista Networks from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Tuesday. Bank of America downgraded shares of Arista Networks from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $105.00 in a report on Wednesday, July 20th. Citigroup boosted their target price on shares of Arista Networks from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Credit Suisse Group boosted their target price on shares of Arista Networks from $178.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $157.53.

Arista Networks Stock Up 2.9 %

ANET stock opened at $126.68 on Friday. The company has a market capitalization of $38.55 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 1.90 and a beta of 1.35. Arista Networks, Inc. has a 12 month low of $85.18 and a 12 month high of $148.57. The firm has a 50 day moving average of $101.91 and a two-hundred day moving average of $114.69.

Arista Networks (NYSE:ANETGet Rating) last posted its earnings results on Monday, August 1st. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.78 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The company’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, research analysts expect that Arista Networks, Inc. will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andreas Bechtolsheim sold 100,000 shares of the company’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $102.95, for a total transaction of $10,295,000.00. Following the completion of the sale, the insider now directly owns 46,520,000 shares of the company’s stock, valued at approximately $4,789,234,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Andreas Bechtolsheim sold 100,000 shares of the stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $102.95, for a total value of $10,295,000.00. Following the completion of the transaction, the insider now owns 46,520,000 shares in the company, valued at approximately $4,789,234,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 6,660 shares of the stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $102.11, for a total transaction of $680,052.60. Following the completion of the transaction, the director now owns 112,266 shares of the company’s stock, valued at approximately $11,463,481.26. The disclosure for this sale can be found here. In the last three months, insiders sold 530,320 shares of company stock valued at $54,800,753. Company insiders own 19.59% of the company’s stock.

Arista Networks Profile

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

See Also

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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