Vinva Investment Management Ltd Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Vinva Investment Management Ltd increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 282.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,007 shares of the technology company’s stock after acquiring an additional 22,892 shares during the period. Vinva Investment Management Ltd’s holdings in Arista Networks were worth $3,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Altman Advisors Inc. grew its holdings in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the last quarter. Freedom Investment Management Inc. grew its holdings in shares of Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after buying an additional 36 shares during the last quarter. LRI Investments LLC boosted its holdings in Arista Networks by 3.1% in the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in Arista Networks by 3.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $84.38 on Thursday. The stock has a fifty day moving average of $103.81 and a two-hundred day moving average of $101.77. The company has a market capitalization of $106.42 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.