6,363 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by M&G Investment Management Ltd.

M&G Investment Management Ltd. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, Holdings Channel reports. The fund purchased 6,363 shares of the technology company’s stock, valued at approximately $1,502,000.

A number of other large investors have also recently bought and sold shares of ANET. Nwam LLC lifted its position in shares of Arista Networks by 55.8% during the 3rd quarter. Nwam LLC now owns 2,068 shares of the technology company’s stock valued at $380,000 after acquiring an additional 741 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of Arista Networks by 4.4% during the third quarter. Wealthfront Advisers LLC now owns 18,068 shares of the technology company’s stock valued at $3,323,000 after purchasing an additional 761 shares during the period. New Mexico Educational Retirement Board boosted its position in shares of Arista Networks by 8.3% during the 3rd quarter. New Mexico Educational Retirement Board now owns 13,000 shares of the technology company’s stock worth $2,391,000 after purchasing an additional 1,000 shares in the last quarter. Zevenbergen Capital Investments LLC raised its stake in Arista Networks by 11.0% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 54,700 shares of the technology company’s stock worth $10,061,000 after buying an additional 5,400 shares during the period. Finally, Congress Asset Management Co. MA boosted its holdings in Arista Networks by 903.5% in the third quarter. Congress Asset Management Co. MA now owns 501,120 shares of the technology company’s stock worth $92,171,000 after acquiring an additional 451,184 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Down 0.0 %

Shares of NYSE ANET traded down $0.11 during midday trading on Thursday, hitting $325.92. The company’s stock had a trading volume of 615,100 shares, compared to its average volume of 2,534,933. The stock has a fifty day moving average price of $282.42 and a 200 day moving average price of $256.09. The firm has a market capitalization of $102.13 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 2.80 and a beta of 1.13. Arista Networks, Inc. has a one year low of $133.42 and a one year high of $329.04.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a stock buyback program on Tuesday, May 7th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. UBS Group boosted their target price on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Wells Fargo & Company boosted their price objective on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.00.

Insider Activity

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 356 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $274.91, for a total transaction of $97,867.96. Following the transaction, the director now owns 2,570 shares of the company’s stock, valued at $706,518.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 361,090 shares of company stock worth $104,326,565. 3.54% of the stock is owned by corporate insiders.

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.