Danske Bank A S Makes New $112.88 Million Investment in Arista Networks, Inc. $ANET

Danske Bank A S purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 774,652 shares of the technology company’s stock, valued at approximately $112,875,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ANET. Global Trust Asset Management LLC lifted its stake in shares of Arista Networks by 33.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock valued at $2,808,000 after purchasing an additional 4,780 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $8,263,000. National Wealth Management Group LLC acquired a new stake in Arista Networks during the 3rd quarter worth approximately $1,296,000. Vanguard Group Inc. raised its holdings in Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the period. Finally, Holocene Advisors LP purchased a new position in Arista Networks in the second quarter valued at approximately $247,451,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Down 1.7%

NYSE ANET opened at $133.02 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The business has a 50 day moving average price of $134.83 and a two-hundred day moving average price of $137.32. The stock has a market cap of $167.14 billion, a PE ratio of 48.19, a P/E/G ratio of 2.40 and a beta of 1.46.

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. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In related news, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $142.35, for a total transaction of $3,701,100.00. Following the sale, the insider owned 512,400 shares of the company’s stock, valued at $72,940,140. The trade was a 4.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the completion of the transaction, the director owned 9,529 shares in the company, valued at $1,220,283.74. This represents a 4.24% 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 valued at $18,968,800 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Arista Networks in a research note on Thursday, March 12th. They set a “buy” rating and a $170.00 price objective for the company. UBS Group set a $200.00 target price on shares of Arista Networks in a research note on Tuesday, February 24th. Needham & Company LLC lifted their target price on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.