Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 329.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,397,154 shares of the technology company's stock after purchasing an additional 4,907,742 shares during the quarter. Deutsche Bank AG owned approximately 0.51% of Arista Networks worth $707,077,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Arista Networks by 232.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,518,916 shares of the technology company's stock valued at $499,476,000 after acquiring an additional 3,157,989 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. EPG Wealth Management LLC raised its position in Arista Networks by 196.3% in the fourth quarter. EPG Wealth Management LLC now owns 14,543 shares of the technology company's stock valued at $1,607,000 after purchasing an additional 9,635 shares during the period. EP Wealth Advisors LLC boosted its position in Arista Networks by 251.6% in the 4th quarter. EP Wealth Advisors LLC now owns 55,874 shares of the technology company's stock valued at $6,176,000 after buying an additional 39,981 shares during the last quarter. Finally, Colonial Trust Co SC raised its position in shares of Arista Networks by 232.0% during the 4th quarter. Colonial Trust Co SC now owns 1,444 shares of the technology company's stock valued at $160,000 after acquiring an additional 1,009 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of ANET stock traded up $4.72 during mid-day trading on Tuesday, hitting $97.04. 7,207,559 shares of the stock traded hands, compared to its average volume of 11,272,957. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.57. The company's 50-day simple moving average is $79.03 and its 200-day simple moving average is $97.25. The firm has a market cap of $121.87 billion, a price-to-earnings ratio of 43.71, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. 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. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. KGI Securities lowered Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.07.

Insider Transactions at Arista Networks

In other news, 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 sale, the director now owns 7,480 shares of the company's stock, valued at approximately $512,305.20. The trade was a 16.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $37,216,079 over the last ninety days. 3.39% of the stock is owned by company insiders.

Arista Networks 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.