Van Lanschot Kempen Investment Management N.V. Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Van Lanschot Kempen Investment Management N.V. raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 298.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 52,048 shares of the technology company's stock after purchasing an additional 38,972 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Arista Networks were worth $5,753,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks in the fourth quarter valued at $242,000. GHE LLC raised its stake in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after buying an additional 21,597 shares during the period. Colonial River Investments LLC grew its stake in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock valued at $1,077,000 after acquiring an additional 7,466 shares during the period. Unified Investment Management bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. raised its position in shares of Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the topic of several research reports. Evercore ISI lowered their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Rosenblatt Securities cut their price target on Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a research note on Tuesday. Barclays reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup cut their target price on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler dropped their price objective on Arista Networks from $108.00 to $76.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $104.29.

Arista Networks Stock Performance

Shares of NYSE ANET traded up $2.67 during trading hours on Friday, hitting $77.96. The company's stock had a trading volume of 12,455,138 shares, compared to its average volume of 9,122,437. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The stock has a market cap of $97.89 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 3.10 and a beta of 1.30. The business has a 50-day simple moving average of $81.23 and a 200-day simple moving average of $98.52.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.90 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the sale, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. The trade was a 16.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the sale, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock valued at $39,446,799 over the last three months. Corporate insiders own 3.54% of the company's stock.

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.