Ossiam Acquires 2,507 Shares of Arista Networks, Inc. (NYSE:ANET)

Ossiam lifted its stake in Arista Networks, Inc. (NYSE:ANETFree Report) by 70.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,088 shares of the technology company’s stock after purchasing an additional 2,507 shares during the period. Ossiam’s holdings in Arista Networks were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Arista Networks by 0.3% during the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock worth $5,131,433,000 after acquiring an additional 84,212 shares during the period. FMR LLC increased its stake in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares in the last quarter. Capital World Investors grew its holdings in shares of Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares during the last quarter. WCM Investment Management LLC raised its stake in Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares during the last quarter. Finally, Norges Bank purchased a new stake in Arista Networks during the 4th quarter valued at about $586,051,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 87,418 shares of the firm’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 transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 in the company, valued at $4,929,639.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Mccool sold 580 shares of Arista Networks stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $292.28, for a total value of $169,522.40. The disclosure for this sale can be found here. Insiders have sold a total of 387,368 shares of company stock valued at $114,345,043 in the last 90 days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Up 0.3 %

ANET opened at $297.75 on Tuesday. Arista Networks, Inc. has a twelve month low of $148.32 and a twelve month high of $329.04. The company has a market cap of $93.30 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 2.69 and a beta of 1.08. The company has a 50-day moving average price of $288.26 and a 200 day moving average price of $268.49.

Arista Networks (NYSE:ANETGet Free Report) last released its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. As a group, sell-side analysts expect that Arista Networks, Inc. will post 7.05 earnings per share for the current year.

Arista Networks declared that its board has authorized a stock repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Evercore ISI upped their price target on shares of Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Monday, May 20th. Barclays lifted their price objective on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Wednesday, May 8th. One 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. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.22.

Get Our Latest Stock Analysis on ANET

Arista Networks Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANETFree Report).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.