Nordea Investment Management AB Reduces Holdings in Arista Networks, Inc. $ANET

Nordea Investment Management AB reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,182,936 shares of the technology company’s stock after selling 882,118 shares during the period. Arista Networks comprises 0.8% of Nordea Investment Management AB’s investment portfolio, making the stock its 22nd largest position. Nordea Investment Management AB owned 0.49% of Arista Networks worth $892,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ANET. AdvisorNet Financial Inc increased its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Crown Wealth Group LLC grew its holdings in Arista Networks by 2.4% in the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after acquiring an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc increased its position in shares of Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after acquiring an additional 76 shares during the period. Stablepoint Partners LLC raised its stake in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after acquiring an additional 77 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of Arista Networks by 13.1% during the third quarter. ORG Partners LLC now owns 675 shares of the technology company’s stock worth $98,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the sale, the director directly owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,598,124.16. The trade was a 69.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 216,464 shares of company stock worth $28,488,988. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

NYSE:ANET opened at $123.34 on Tuesday. The firm’s 50-day moving average price is $129.74 and its 200-day moving average price is $132.31. The company has a market capitalization of $155.32 billion, a PE ratio of 46.90, a P/E/G ratio of 2.07 and a beta of 1.41. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. Arista Networks’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the company posted $2.40 EPS. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. UBS Group reiterated a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research report on Wednesday, December 3rd. Morgan Stanley decreased their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Finally, Barclays reaffirmed an “overweight” rating and issued a $183.00 target price (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $164.44.

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.