Arista Networks, Inc. (NYSE:ANET) Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc cut its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,816 shares of the technology company's stock after selling 113,813 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Arista Networks were worth $27,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitlin John LLC raised its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Fragasso Financial Advisors Inc raised its position in shares of Arista Networks by 4.4% during the 1st quarter. Fragasso Financial Advisors Inc now owns 4,645 shares of the technology company's stock worth $360,000 after acquiring an additional 196 shares in the last quarter. Quarry LP lifted its stake in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC boosted its holdings in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company's stock, valued at approximately $10,840,249.20. The trade was a 5.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now directly owns 7,480 shares in the company, valued at $512,305.20. The trade was a 16.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,690 shares of company stock valued at $9,360,205 in the last quarter. 3.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ANET. JPMorgan Chase & Co. dropped their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC started coverage on Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating on the stock. KGI Securities cut Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Morgan Stanley lifted their price target on Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.47.

Arista Networks Trading Up 0.2%

Shares of NYSE:ANET traded up $0.17 during midday trading on Thursday, hitting $95.11. The stock had a trading volume of 7,919,931 shares, compared to its average volume of 10,999,438. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.57. The stock has a 50 day moving average price of $82.70 and a two-hundred day moving average price of $96.54. The company has a market capitalization of $119.45 billion, a PE ratio of 42.84, a P/E/G ratio of 3.10 and a beta of 1.38.

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

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

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.