Mn Services Vermogensbeheer B.V. Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Mn Services Vermogensbeheer B.V. grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 309.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 419,776 shares of the technology company’s stock after buying an additional 317,132 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Arista Networks were worth $46,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ANET. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 416,008 shares of company stock worth $44,854,958. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

ANET stock opened at $96.43 on Thursday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The firm has a market cap 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 firm’s fifty day moving average is $112.54 and its 200 day moving average is $102.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

ANET has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Barclays upped their price target on Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI boosted their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.79.

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.