37,957 Shares in Arista Networks, Inc. $ANET Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 37,957 shares of the technology company’s stock, valued at approximately $4,974,000.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Arista Networks during the second quarter worth $1,228,177,000. Massachusetts Financial Services Co. MA increased its position in shares of Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after buying an additional 5,525,828 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Arista Networks by 82.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock worth $1,396,939,000 after buying an additional 4,332,659 shares during the period. Holocene Advisors LP bought a new position in Arista Networks during the second quarter worth about $247,451,000. Finally, Schroder Investment Management Group lifted its holdings in Arista Networks by 14.8% during the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after acquiring an additional 1,350,593 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares in the company, valued at $1,665,300.56. This represents a 12.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total value of $4,292,480.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,740,600.64. The trade was a 71.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 199,632 shares of company stock valued at $26,936,324. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 3.6%

NYSE:ANET opened at $135.98 on Tuesday. The company has a market cap of $170.87 billion, a P/E ratio of 49.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.46. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The business has a 50 day moving average price of $135.61 and a two-hundred day moving average price of $137.24.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on ANET shares. Evercore restated an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Barclays reiterated an “overweight” rating and issued a $184.00 price objective (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. TD Cowen initiated coverage on Arista Networks in a research note on Thursday, March 12th. They set a “buy” rating and a $170.00 target price for the company. Finally, KeyCorp restated an “overweight” rating and set a $178.00 target price (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $176.47.

Arista Networks Company 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.