Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 308.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,527,051 shares of the technology company's stock after purchasing an additional 1,153,302 shares during the quarter. Voya Investment Management LLC owned 0.12% of Arista Networks worth $168,785,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ANET. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 72,311,318 shares in the last quarter. FMR LLC raised its holdings in shares of 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 acquiring an additional 44,269,572 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Arista Networks by 311.6% in the fourth 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 during the last quarter. Alliancebernstein L.P. raised its stake 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 valued at $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 during the 4th quarter worth $1,397,833,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the sale, the director now directly owns 155,784 shares of the company's stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,355 shares of company stock worth $39,446,799. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of NYSE ANET traded down $0.20 during mid-day trading on Monday, hitting $77.71. The company had a trading volume of 4,433,340 shares, compared to its average volume of 9,080,111. The business's 50-day simple moving average is $80.57 and its 200 day simple moving average is $98.31. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a market capitalization of $97.58 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ANET shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities dropped their price target on Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Arista Networks from $118.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $104.29.

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.