Janus Henderson Group PLC Has $107.44 Million Stake in Arista Networks, Inc. (NYSE:ANET)

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

Other large investors also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings in shares of Arista Networks by 179.7% during the 4th quarter. ORG Partners LLC now owns 400 shares of the technology company's stock worth $44,000 after buying an additional 257 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Arista Networks by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,495 shares of the technology company's stock worth $9,118,000 after purchasing an additional 562 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Arista Networks by 308.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,809 shares of the technology company's stock worth $1,195,000 after purchasing an additional 8,161 shares in the last quarter. Czech National Bank increased its position in shares of Arista Networks by 326.8% during the 4th quarter. Czech National Bank now owns 223,976 shares of the technology company's stock worth $24,756,000 after purchasing an additional 171,500 shares in the last quarter. Finally, Aprio Wealth Management LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. Aprio Wealth Management LLC now owns 2,672 shares of the technology company's stock worth $295,000 after acquiring an additional 2,004 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 0.2%

Shares of NYSE:ANET traded up $0.24 during midday trading on Friday, reaching $96.31. 5,866,947 shares of the company were exchanged, compared to its average volume of 9,071,408. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The stock has a fifty day simple moving average of $80.29 and a two-hundred day simple moving average of $97.20. The firm has a market cap of $120.95 billion, a PE ratio of 43.38, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 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 business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business posted $0.50 earnings per share. The firm's quarterly revenue was up 27.6% on a year-over-year basis. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its board has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ANET shares. Rosenblatt Securities increased their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $130.00 price objective on shares of Arista Networks in a report on Thursday. The Goldman Sachs Group reduced their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Citigroup raised their target price on shares of Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.14.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,168,748.32. This trade represents a 86.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares of the company's stock, valued at approximately $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 a total of 410,867 shares of company stock worth $37,056,669 over the last ninety days. Company insiders own 3.39% 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.