AIA Group Ltd Has $4.18 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

AIA Group Ltd increased its position in Arista Networks, Inc. (NYSE:ANET) by 118.8% in the fourth quarter, HoldingsChannel reports. The firm owned 37,814 shares of the technology company’s stock after acquiring an additional 20,528 shares during the period. AIA Group Ltd’s holdings in Arista Networks were worth $4,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks in the fourth quarter valued at about $242,000. GHE LLC boosted 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 valued at $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC grew its holdings in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new position in shares of Arista Networks during the fourth quarter worth approximately $630,000. Finally, Berkshire Capital Holdings Inc. lifted its holdings 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 buying an additional 55,430 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 in the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 1.3 %

Shares of NYSE ANET opened at $77.91 on Monday. The firm has a market cap of $98.25 billion, a PE ratio of 35.09, a PEG ratio of 3.10 and a beta of 1.08. The company has a fifty day moving average price of $99.16 and a 200 day moving average price of $101.91. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of research reports. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Morgan Stanley lifted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Evercore ISI raised their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.