Mn Services Vermogensbeheer B.V. Buys 317,132 Shares of Arista Networks, Inc. (NYSE:ANET)

Mn Services Vermogensbeheer B.V. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 309.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419,776 shares of the technology company’s stock after acquiring an additional 317,132 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Arista Networks were worth $46,398,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ANET. State Street Corp increased its position in Arista Networks by 3.8% during the third quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock worth $4,313,229,000 after acquiring an additional 411,109 shares during the period. Swedbank AB increased its holdings in shares of Arista Networks by 293.2% during the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Arista Networks by 294.1% during the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock worth $678,308,000 after purchasing an additional 4,579,622 shares during the period. WCM Investment Management LLC raised its position in shares of Arista Networks by 292.8% in the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after buying an additional 4,512,166 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Arista Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock valued at $2,246,705,000 after buying an additional 236,151 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The shares were 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. In the last ninety days, insiders sold 416,008 shares of company stock valued at $44,854,958. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ANET shares. UBS Group raised their price objective on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler reissued a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.79.

Arista Networks Price Performance

Shares of NYSE ANET opened at $96.43 on Thursday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The stock has a market capitalization of $121.61 billion, a P/E ratio of 43.44, a P/E/G ratio of 3.10 and a beta of 1.09. The company has a 50-day moving average price of $112.54 and a 200-day moving average price of $102.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities research 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.