Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 172.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 971,547 shares of the technology company's stock after purchasing an additional 614,483 shares during the period. Janus Henderson Group PLC owned about 0.08% of Arista Networks worth $107,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. purchased a new position in Arista Networks in the 4th quarter valued at $242,000. GHE LLC grew 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 acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC lifted its stake 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 worth $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $630,000. Finally, Berkshire Capital Holdings Inc. increased its holdings in shares of Arista Networks by 257.6% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock valued at $8,505,000 after purchasing an additional 55,430 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 17,433 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $96.57, for a total value of $1,683,504.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction dated 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 owns 7,480 shares in the company, valued at $512,305.20. This trade represents a 16.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,867 shares of company stock valued at $37,056,669 over the last quarter. 3.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Citigroup raised their price objective on shares of Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a research report on Tuesday. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays cut their price target on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group decreased their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.14.

Arista Networks Trading Up 0.2%

ANET traded up $0.24 on Friday, hitting $96.31. 5,866,947 shares of the company were exchanged, compared to its average volume of 9,058,230. The firm has a 50-day moving average price of $79.95 and a two-hundred day moving average price of $97.24. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The company has a market cap of $120.95 billion, a price-to-earnings ratio of 43.38, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The firm's quarterly revenue was up 27.6% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.