774,652 Shares in Arista Networks, Inc. $ANET Bought by Danske Bank A S

Danske Bank A S bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 774,652 shares of the technology company’s stock, valued at approximately $112,875,000. Danske Bank A S owned 0.06% of Arista Networks as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Walkner Condon Financial Advisors LLC increased its holdings in shares of Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the period. Crown Wealth Group LLC boosted its holdings in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after buying an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc grew its position in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares during the period. Finally, West Family Investments Inc. grew its position in Arista Networks by 0.9% during the third quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock worth $1,219,000 after buying an additional 76 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the firm’s 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 sale, the director directly owned 12,574 shares of the company’s stock, valued at $1,665,300.56. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.67, for a total transaction of $1,029,360.00. Following the sale, the director owned 1,784 shares in the company, valued at approximately $229,547.28. This trade represents a 81.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 140,237 shares of company stock worth $18,968,800 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ANET. Evercore reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a report on Friday, February 13th. Rosenblatt Securities upped their price target on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Wells Fargo & Company raised their price objective on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $176.47.

Arista Networks Trading Down 1.7%

Shares of ANET opened at $133.02 on Wednesday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The stock has a market cap of $167.14 billion, a P/E ratio of 48.19, a PEG ratio of 2.40 and a beta of 1.46. The company has a 50-day moving average of $134.83 and a two-hundred day moving average of $137.32.

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

About Arista Networks

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.