ING Groep NV Has $8.13 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

ING Groep NV lifted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,498 shares of the technology company's stock after purchasing an additional 3,017 shares during the period. ING Groep NV's holdings in Arista Networks were worth $8,125,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC bought a new position in shares of Arista Networks during the third quarter worth about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks in the 3rd quarter worth approximately $29,000. NBC Securities Inc. bought a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $33,000. Atticus Wealth Management LLC raised its position in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company's stock valued at $35,000 after acquiring an additional 145 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Arista Networks during the fourth quarter worth $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Down 0.1 %

ANET stock traded down $0.20 during trading on Friday, hitting $319.89. The company had a trading volume of 1,752,251 shares, compared to its average volume of 2,921,951. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 2.89 and a beta of 1.13. The business has a 50 day moving average of $284.03 and a 200 day moving average of $258.26. Arista Networks, Inc. has a fifty-two week low of $133.42 and a fifty-two week high of $329.04.

Arista Networks announced that its board has approved a share repurchase plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the technology company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company's stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company's stock, valued at approximately $721,704.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company's stock, valued at $4,929,639.61. The disclosure for this sale can be found here. Insiders sold 386,018 shares of company stock valued at $112,232,499 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ANET. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. The Goldman Sachs Group raised their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Evercore ISI restated an "outperform" rating and issued a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $320.00 price target on shares of Arista Networks in a research report on Wednesday, May 8th. Finally, UBS Group raised their price target on Arista Networks from $275.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $293.00.

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.