Van Lanschot Kempen Investment Management N.V. Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Van Lanschot Kempen Investment Management N.V. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 298.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,048 shares of the technology company’s stock after acquiring an additional 38,972 shares during the period. Van Lanschot Kempen Investment Management N.V.’s holdings in Arista Networks were worth $5,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. grew its holdings in shares of Arista Networks by 318.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 501,156 shares of the technology company’s stock worth $55,418,000 after purchasing an additional 381,449 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Arista Networks by 281.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 168,179 shares of the technology company’s stock valued at $18,589,000 after buying an additional 124,040 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Arista Networks by 1,073.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 66,031 shares of the technology company’s stock worth $7,298,000 after acquiring an additional 60,404 shares in the last quarter. Tradition Wealth Management LLC raised its position in Arista Networks by 541.2% during the fourth quarter. Tradition Wealth Management LLC now owns 8,412 shares of the technology company’s stock valued at $930,000 after purchasing an additional 7,100 shares in the last quarter. Finally, Transce3nd LLC bought a new position in shares of Arista Networks during the 4th quarter valued at about $90,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Down 4.9 %

ANET stock opened at $67.68 on Tuesday. The stock has a market capitalization of $85.35 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm’s fifty day simple moving average is $83.39 and its two-hundred day simple moving average is $99.08.

Arista Networks (NYSE:ANET) last announced 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 the consensus estimate of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 410,863 shares of company stock worth $39,344,612. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ANET. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Piper Sandler dropped their price target on Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.07.

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.