Banque Transatlantique SA Invests $114.41 Million in Arista Networks, Inc. (NYSE:ANET)

Banque Transatlantique SA purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,035,059 shares of the technology company's stock, valued at approximately $114,405,000. Arista Networks accounts for 2.7% of Banque Transatlantique SA's holdings, making the stock its 11th biggest position. Banque Transatlantique SA owned approximately 0.08% of Arista Networks at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. Vanguard Group Inc. increased its stake in Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock worth $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. FMR LLC grew its holdings in shares of Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 worth $2,665,829,000 after buying an additional 18,293,874 shares during the period. Alliancebernstein L.P. boosted its position in 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 buying an additional 14,454,822 shares during the period. Finally, Norges Bank bought a new position in Arista Networks in the 4th quarter worth about $1,397,833,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

Arista Networks stock traded up $0.72 during midday trading on Tuesday, reaching $91.10. The company's stock had a trading volume of 14,128,172 shares, compared to its average volume of 9,192,759. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The stock has a market capitalization of $114.38 billion, a P/E ratio of 41.03, a PEG ratio of 3.10 and a beta of 1.38. The stock's 50-day simple moving average is $79.02 and its 200-day simple moving average is $97.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results 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 company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has authorized a share buyback program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,355 shares of company stock worth $39,259,279. Company insiders own 3.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Evercore ISI lowered their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $108.36.

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.