Vontobel Holding Ltd. Has $15.11 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Vontobel Holding Ltd. lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 13.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,145 shares of the technology company’s stock after selling 10,263 shares during the period. Vontobel Holding Ltd.’s holdings in Arista Networks were worth $15,107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ANET. Morgan Stanley lifted its position in shares of Arista Networks by 162.2% during the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after acquiring an additional 3,432,952 shares during the period. Norges Bank acquired a new position in Arista Networks during the fourth quarter worth $308,885,000. FMR LLC raised its holdings in Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. Schroder Investment Management Group raised its holdings in Arista Networks by 439.3% during the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after buying an additional 1,025,815 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Arista Networks by 1,424.3% in the 4th quarter. 1832 Asset Management L.P. now owns 875,198 shares of the technology company’s stock worth $106,205,000 after acquiring an additional 817,781 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $263.20 on Tuesday. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The firm’s 50 day simple moving average is $281.58 and its two-hundred day simple moving average is $243.39. The stock has a market capitalization of $82.28 billion, a P/E ratio of 40.06, a PEG ratio of 2.34 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, equities analysts expect that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday. Piper Sandler upped their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Morgan Stanley increased their price target on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Transactions at Arista Networks

In other news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the sale, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,036 shares of company stock worth $102,813,921. Insiders own 18.99% of the company’s stock.

Arista Networks Profile

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.