Universal Beteiligungs und Servicegesellschaft mbH Has $77.60 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 17.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,001,480 shares of the technology company's stock after buying an additional 148,886 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.08% of Arista Networks worth $77,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANET. FMR LLC grew its position 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 during the last quarter. Cresset Asset Management LLC grew its position 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 during the last quarter. Geode Capital Management LLC grew its position 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 during the last quarter. Alliancebernstein L.P. grew its position 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 during the last quarter. Finally, Norges Bank acquired a new stake in Arista Networks in the 4th quarter worth $1,397,833,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANET shares. Piper Sandler reissued a "neutral" rating and set a $89.00 price target (up from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. Wolfe Research started coverage on shares of Arista Networks in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Needham & Company LLC started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating for the company. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Finally, Wedbush initiated coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set an "outperform" rating for the company. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.40.

Arista Networks Stock Performance

NYSE:ANET traded down $1.55 during mid-day trading on Tuesday, reaching $110.07. 2,900,370 shares of the company's stock were exchanged, compared to its average volume of 9,135,505. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market capitalization of $138.23 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 3.26 and a beta of 1.40. The business's fifty day simple moving average is $97.19 and its two-hundred day simple moving average is $94.78.

Arista Networks (NYSE:ANET - Get Free Report) last announced 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 firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The business's revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its board has authorized 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 generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 748,444 shares of Arista Networks stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the sale, the chief executive officer directly owned 30,000 shares in the company, valued at $3,072,900. This trade represents a 96.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $99.36, for a total transaction of $794,880.00. Following the transaction, the director owned 65,784 shares of the company's stock, valued at approximately $6,536,298.24. The trade was a 10.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,878 shares of company stock worth $119,281,861 in the last ninety days. Company insiders own 3.39% of the company's stock.

Arista Networks Company 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.

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