Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 852,594 Arista Networks, Inc. (NYSE:ANET)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 852,594 shares of the technology company's stock, valued at approximately $94,237,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Arista Networks at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC boosted its stake in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. New Millennium Group LLC boosted its position in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the period. Quarry LP increased its holdings in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of 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 during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Wedbush began coverage on shares of Arista Networks in a research report on Wednesday. They set an "outperform" rating for the company. Needham & Company LLC assumed coverage on Arista Networks in a research report on Wednesday. They issued a "buy" rating on the stock. JPMorgan Chase & Co. lowered their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group reduced their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Five equities research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $107.47.

Arista Networks Stock Up 0.1%

Shares of ANET traded up $0.12 during trading hours on Friday, hitting $86.49. 16,490,789 shares of the company were exchanged, compared to its average volume of 9,049,411. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The company has a market cap of $108.62 billion, a price-to-earnings ratio of 38.96, a P/E/G ratio of 3.10 and a beta of 1.38. The firm's fifty day moving average is $81.89 and its 200 day moving average is $96.60.

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 29.91%. 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. Analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

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

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total value of $712,240.00. Following the sale, the director now directly owns 147,784 shares in the company, valued at approximately $13,157,209.52. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,538 shares of company stock worth $20,748,219. Corporate insiders own 3.54% of the company's stock.

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.