Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,623 shares of the technology company’s stock after purchasing an additional 4,318 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Arista Networks were worth $30,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the 2nd quarter valued at about $27,000. Benjamin Edwards Inc. purchased a new position in Arista Networks during the first quarter worth about $26,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks during the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks during the second quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ANET shares. Jefferies Financial Group increased their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. UBS Group boosted their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, Evercore ISI reiterated an “outperform” rating and set a $400.00 price target on shares of Arista Networks in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the sale, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The disclosure for this sale can be found here. Insiders sold a total of 107,361 shares of company stock worth $38,024,123 over the last 90 days. 3.54% of the stock is owned by insiders.

Arista Networks Trading Up 1.4 %

Shares of ANET opened at $384.46 on Friday. The firm has a market capitalization of $120.48 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. The firm’s fifty day simple moving average is $341.55 and its 200-day simple moving average is $316.46. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $385.50.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. On average, analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Arista Networks Company 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.