Livforsakringsbolaget Skandia Omsesidigt Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 118.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 69,420 shares of the technology company’s stock after acquiring an additional 37,640 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Arista Networks were worth $7,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after buying an additional 152 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. New Millennium Group LLC boosted its position in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Finally, Westside Investment Management Inc. grew its stake in Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after purchasing an additional 253 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Shares of ANET opened at $115.11 on Friday. The business’s 50-day moving average is $112.58 and its two-hundred day moving average is $99.48. The company has a market capitalization of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $0.41 earnings per share. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Analysts Set New Price Targets

ANET has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. 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 stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 in the last 90 days. 3.54% of the stock is currently owned by company insiders.

About Arista Networks

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.