TCW Group Inc. Cuts Holdings in Arista Networks, Inc. (NYSE:ANET)

TCW Group Inc. reduced its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,343 shares of the technology company's stock after selling 14,385 shares during the period. TCW Group Inc. owned 0.07% of Arista Networks worth $50,721,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SageView Advisory Group LLC acquired a new position in shares of Arista Networks during the 4th quarter worth about $235,000. FineMark National Bank & Trust boosted its holdings in Arista Networks by 0.7% during the fourth quarter. FineMark National Bank & Trust now owns 6,236 shares of the technology company's stock worth $1,469,000 after purchasing an additional 43 shares during the last quarter. Hohimer Wealth Management LLC increased its position in shares of Arista Networks by 0.6% during the 4th quarter. Hohimer Wealth Management LLC now owns 6,700 shares of the technology company's stock worth $1,578,000 after purchasing an additional 43 shares during the last quarter. US Bancorp DE raised its stake in shares of Arista Networks by 6.3% during the 4th quarter. US Bancorp DE now owns 42,809 shares of the technology company's stock worth $10,082,000 after purchasing an additional 2,535 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Arista Networks by 16.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 48,609 shares of the technology company's stock worth $11,448,000 after purchasing an additional 7,040 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ANET shares. JMP Securities restated a "market outperform" rating and issued a $325.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Barclays upped their price objective on Arista Networks from $311.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, May 9th. Evercore ISI upped their price objective on Arista Networks from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Monday. The Goldman Sachs Group upped their price objective on Arista Networks from $313.00 to $356.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $320.00 price objective on shares of Arista Networks in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $295.22.

Arista Networks Trading Down 4.8 %

ANET traded down $15.08 on Thursday, reaching $301.42. The stock had a trading volume of 6,620,220 shares, compared to its average volume of 2,554,975. Arista Networks, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $329.04. The firm has a 50-day moving average of $286.76 and a 200-day moving average of $260.44. The company has a market capitalization of $94.45 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 2.87 and a beta of 1.13.

Arista Networks announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the technology company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the company's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the company's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 223 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total value of $70,543.82. Following the completion of the sale, the director now directly owns 2,976 shares of the company's stock, valued at approximately $941,427.84. The disclosure for this sale can be found here. Insiders sold a total of 396,350 shares of company stock valued at $115,916,018 in the last 90 days. Corporate insiders own 3.54% of the company's stock.

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.