Axa S.A. Purchases 555,707 Shares of Arista Networks, Inc. (NYSE:ANET)

AXA S.A. lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 470.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,853 shares of the technology company's stock after acquiring an additional 555,707 shares during the quarter. AXA S.A. owned approximately 0.05% of Arista Networks worth $74,481,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares during the last quarter. FMR LLC grew its position in shares of Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after buying an additional 44,269,572 shares during the period. Geode Capital Management LLC increased its stake in shares of Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Finally, Norges Bank bought a new stake in Arista Networks in the fourth quarter valued at approximately $1,397,833,000. 82.47% of the stock is currently owned by institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,355 shares of company stock worth $39,259,279. Company insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Citigroup lowered their target price on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Rosenblatt Securities upgraded Arista Networks from a "sell" rating to a "neutral" rating and boosted their price target for the company from $55.00 to $85.00 in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $108.36.

Arista Networks Stock Up 0.8 %

Shares of ANET stock traded up $0.72 during trading hours on Tuesday, hitting $91.10. 14,128,172 shares of the company's stock traded hands, compared to its average volume of 9,192,749. 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 $114.38 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The stock's 50 day simple moving average is $79.03 and its 200 day simple moving average is $97.62.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates 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 expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.