Skandinaviska Enskilda Banken AB publ Has $52.37 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Skandinaviska Enskilda Banken AB publ raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 402.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 469,872 shares of the technology company's stock after buying an additional 376,341 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Arista Networks were worth $52,367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Caitlin John LLC boosted its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC boosted its position in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC boosted its position in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,101,013.60. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares in the company, valued at $13,157,209.52. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last quarter. Insiders own 3.54% of the company's stock.

Arista Networks Trading Down 0.2 %

ANET stock traded down $0.15 during mid-day trading on Thursday, hitting $80.11. 6,964,869 shares of the company were exchanged, compared to its average volume of 8,730,205. The company has a market capitalization of $101.02 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The firm has a fifty day simple moving average of $106.38 and a 200 day simple moving average of $101.73.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. StockNews.com downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $114.00.

About Arista Networks

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.