Mn Services Vermogensbeheer B.V. Has $30.13 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,876 shares of the technology company's stock after selling 30,900 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Arista Networks were worth $30,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC grew its position in Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after buying an additional 44,269,572 shares during the period. Cresset Asset Management LLC raised its position in shares of Arista Networks by 277.5% in the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC boosted its stake in shares of Arista Networks by 311.6% during 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 acquiring an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Arista Networks by 218.5% during 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 acquiring an additional 14,454,822 shares during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Price Performance

ANET stock traded up $2.63 during midday trading on Monday, reaching $94.98. 2,942,173 shares of the company's stock traded hands, compared to its average volume of 9,020,140. The business has a 50-day moving average price of $85.82 and a two-hundred day moving average price of $96.33. The company has a market capitalization of $119.28 billion, a P/E ratio of 42.82, a PEG ratio of 3.10 and a beta of 1.37. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

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

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

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction dated 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 completion of the transaction, 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 document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now directly owns 139,784 shares in the company, valued at $10,840,249.20. This trade represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,690 shares of company stock valued at $9,360,205 over the last ninety days. Corporate insiders own 3.39% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Redburn Atlantic began coverage on Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Barclays decreased their target price on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Finally, Needham & Company LLC assumed coverage on Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.38.

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.