BI Asset Management Fondsmaeglerselskab A S Buys Shares of 232,369 Arista Networks, Inc. (NYSE:ANET)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 232,369 shares of the technology company’s stock, valued at approximately $25,684,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont lifted 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 acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction 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 approximately $17,450,923.68. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,031 shares of company stock worth $39,364,943 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler dropped their target price on Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $106.07.

Arista Networks Price Performance

NYSE:ANET opened at $71.11 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a 50 day moving average price of $84.23 and a 200-day moving average price of $99.27. The firm has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share 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.