E. Ohman J or Asset Management AB Makes New $4.97 Million Investment in Arista Networks, Inc. $ANET

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

Other large investors also recently made changes to their positions in the company. Bare Financial Services Inc increased its holdings in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in Arista Networks during the fourth quarter worth $26,000. AdvisorNet Financial Inc lifted its stake in 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 acquiring an additional 72 shares during the last quarter. Knuff & Co LLC bought a new position in shares of Arista Networks in the 3rd quarter valued at about $29,000. Finally, Richardson Financial Services Inc. grew its position in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. UBS Group set a $200.00 price objective on shares of Arista Networks in a research note on Tuesday, February 24th. Barclays reiterated an “overweight” rating and set a $184.00 price target (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company upped 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. Finally, Needham & Company LLC raised their price objective on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $176.47.

Arista Networks Stock Performance

ANET opened at $135.98 on Tuesday. The stock has a fifty day moving average of $135.61 and a 200-day moving average of $137.24. The company has a market capitalization of $170.87 billion, a P/E ratio of 49.27, a P/E/G ratio of 2.32 and a beta of 1.46. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping 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 business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm earned $0.66 earnings per share. Arista Networks’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the transaction, the director directly owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth Duda sold 32,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,740,600.64. The trade was a 71.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 199,632 shares of company stock worth $26,936,324 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

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.