Achmea Investment Management B.V. Acquires 63,616 Shares of Arista Networks, Inc. (NYSE:ANET)

Achmea Investment Management B.V. boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 76.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,972 shares of the technology company's stock after purchasing an additional 63,616 shares during the quarter. Achmea Investment Management B.V.'s holdings in Arista Networks were worth $11,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Vanguard Group Inc. raised its stake in Arista Networks by 304.2% in the 4th 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 in the last quarter. FMR LLC raised its stake in Arista Networks by 330.9% in the 4th 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 in the last quarter. Cresset Asset Management LLC raised its stake in Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after purchasing an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake 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 worth $2,328,869,000 after purchasing an additional 14,454,822 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,168,748.32. The trade was a 86.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total transaction of $705,440.00. Following the sale, the director now directly owns 123,784 shares in the company, valued at $10,915,273.12. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 161,690 shares of company stock worth $14,525,085 in the last three months. 3.39% of the stock is owned by corporate insiders.

Arista Networks Price Performance

ANET stock traded down $2.22 during trading on Friday, reaching $99.37. 10,389,025 shares of the company were exchanged, compared to its average volume of 9,083,120. The company has a 50-day moving average of $89.99 and a two-hundred day moving average of $95.66. The company has a market capitalization of $124.81 billion, a price-to-earnings ratio of 42.06, a P/E/G ratio of 2.98 and a beta of 1.37. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The business 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 30.48%. The firm's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price for the company. BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. BNP Paribas Exane cut shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price for the company. in a research report on Wednesday, June 11th. Barclays dropped their target price on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Piper Sandler restated a "neutral" rating and issued a $89.00 target price (up from $76.00) on shares of Arista Networks in a research report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus target price of $109.33.

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.