Arista Networks, Inc. (NYSE:ANET) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 278.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,641,326 shares of the technology company's stock after acquiring an additional 6,357,753 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.69% of Arista Networks worth $955,126,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Caitlin John LLC raised its position in shares of 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 during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares in the company, valued at approximately $13,157,209.52. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value 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. This trade represents a 59.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 410,867 shares of company stock valued at $37,056,669. Company insiders own 3.39% of the company's stock.

Arista Networks Trading Up 0.3%

Shares of NYSE:ANET opened at $96.71 on Tuesday. The firm has a market cap of $121.46 billion, a price-to-earnings ratio of 43.56, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The business has a fifty day simple moving average of $80.62 and a 200 day simple moving average of $97.19.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business posted $0.50 EPS. Arista Networks's quarterly revenue was up 27.6% on a year-over-year basis. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Erste Group Bank downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. UBS Group raised 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 research report on Wednesday, March 5th. Rosenblatt Securities boosted their price objective on Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Evercore ISI decreased their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays lowered their price target on Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $107.14.

About Arista Networks

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.

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