Nordea Investment Management AB Grows Stock Holdings in Arista Networks Inc (NYSE:ANET)

Nordea Investment Management AB raised its holdings in shares of Arista Networks Inc (NYSE:ANET) by 10.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304 shares of the technology company’s stock after acquiring an additional 322 shares during the period. Nordea Investment Management AB’s holdings in Arista Networks were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lenox Wealth Management Inc. purchased a new position in shares of Arista Networks during the first quarter valued at $26,000. FTB Advisors Inc. purchased a new position in Arista Networks in the fourth quarter valued at about $26,000. Kaizen Advisory LLC purchased a new position in Arista Networks in the fourth quarter valued at about $27,000. Whittier Trust Co. purchased a new position in Arista Networks in the first quarter valued at about $44,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Arista Networks by 46.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock valued at $61,000 after purchasing an additional 61 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ANET traded up $7.25 during mid-day trading on Friday, hitting $282.74. The company had a trading volume of 1,032,774 shares, compared to its average volume of 709,667. The company has a 50-day moving average price of $257.51. The company has a quick ratio of 4.70, a current ratio of 5.34 and a debt-to-equity ratio of 0.04. The company has a market cap of $21.11 billion, a P/E ratio of 39.99, a PEG ratio of 1.74 and a beta of 1.56. Arista Networks Inc has a one year low of $187.08 and a one year high of $331.27.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.24. Arista Networks had a net margin of 30.36% and a return on equity of 29.36%. The company had revenue of $595.42 million during the quarter, compared to the consensus estimate of $595.21 million. During the same period in the previous year, the business earned $1.66 earnings per share. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. On average, sell-side analysts forecast that Arista Networks Inc will post 8.4 earnings per share for the current year.

In related news, COO Anshul Sadana sold 1,350 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $280.07, for a total value of $378,094.50. Following the transaction, the chief operating officer now owns 1,783 shares in the company, valued at $499,364.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Andreas Bechtolsheim sold 140,241 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $252.84, for a total transaction of $35,458,534.44. Following the completion of the transaction, the insider now owns 16,113 shares in the company, valued at approximately $4,074,010.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,065 shares of company stock worth $53,780,009. Insiders own 23.83% of the company’s stock.

A number of analysts have weighed in on the company. Rosenblatt Securities assumed coverage on Arista Networks in a research report on Friday, March 29th. They issued a “neutral” rating and a $330.00 price target for the company. Credit Suisse Group reaffirmed a “hold” rating and issued a $32.00 price target on shares of CRH in a research report on Thursday, April 25th. KeyCorp cut their price objective on PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus set a $95.00 price objective on C.H. Robinson Worldwide and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Nomura upped their price target on PROS from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $311.96.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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