61,078 Shares in Arista Networks, Inc. $ANET Bought by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,078 shares of the technology company’s stock, valued at approximately $8,900,000. Arista Networks accounts for 1.3% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 11th biggest position.

A number of other institutional investors also recently modified their holdings of ANET. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. Cresset Asset Management LLC boosted its position in Arista Networks by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares during the last quarter. Geode Capital Management LLC boosted its position in Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock worth $2,606,694,000 after acquiring an additional 128,977 shares during the last quarter. Norges Bank bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $1,228,177,000. Finally, Schroder Investment Management Group raised its holdings in shares of Arista Networks by 14.8% in the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director directly owned 8,980 shares in the company, valued at $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 208,464 shares of company stock valued at $27,418,668 over the last 90 days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Melius Research increased their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Evercore ISI raised their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Morgan Stanley lowered their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Finally, Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Stock Performance

Shares of ANET stock opened at $133.63 on Monday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock has a market cap of $168.27 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 2.25 and a beta of 1.41. The firm’s 50-day moving average is $133.33 and its 200-day moving average is $130.84.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.Arista Networks’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the company posted $2.40 earnings per share. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.