Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in Arista Networks, Inc. (NYSE:ANET) by 312.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,729 shares of the technology company’s stock after purchasing an additional 17,216 shares during the period. Meeder Advisory Services Inc.’s holdings in Arista Networks were worth $2,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after buying an additional 72,311,318 shares in the last quarter. Geode Capital Management LLC raised its holdings in Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after acquiring an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. lifted 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 worth $2,328,869,000 after purchasing an additional 14,454,822 shares in the last quarter. Norges Bank acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $1,397,833,000. Finally, Wellington Management Group LLP grew its position in shares of Arista Networks by 313.9% in the fourth quarter. Wellington Management Group LLP now owns 11,013,511 shares of the technology company’s stock valued at $1,217,323,000 after purchasing an additional 8,352,816 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ANET. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Up 1.1 %

Shares of NYSE ANET opened at $78.35 on Wednesday. The stock has a market capitalization of $98.81 billion, a PE ratio of 35.29, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The stock has a fifty day simple moving average of $97.45 and a 200-day simple moving average of $101.75.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.