Arista Networks, Inc. (NYSE:ANET) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 376.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 227,278 shares of the technology company’s stock after acquiring an additional 179,546 shares during the quarter. Quantinno Capital Management LP’s holdings in Arista Networks were worth $25,121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. Pathstone Holdings LLC increased its holdings in shares of Arista Networks by 293.6% in the 4th quarter. Pathstone Holdings LLC now owns 101,156 shares of the technology company’s stock valued at $11,197,000 after purchasing an additional 75,459 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Arista Networks during the 4th quarter worth approximately $1,685,000. Man Group plc grew its holdings in shares of Arista Networks by 254.3% in the 4th quarter. Man Group plc now owns 1,238,016 shares of the technology company’s stock worth $136,838,000 after acquiring an additional 888,592 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in Arista Networks by 316.3% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 192,317 shares of the technology company’s stock valued at $21,738,000 after purchasing an additional 146,115 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in Arista Networks by 25.6% during the fourth quarter. Nomura Holdings Inc. now owns 44,301 shares of the technology company’s stock worth $4,897,000 after purchasing an additional 9,026 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the sale, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value 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 trade represents a 59.89% 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 $37,216,079. 3.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ANET. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Barclays reduced their price objective on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.14.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $97.24 on Wednesday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The business has a 50-day moving average of $79.29 and a 200-day moving average of $97.25. The company has a market capitalization of $122.13 billion, a PE ratio of 43.80, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has approved a share buyback program on Tuesday, May 6th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

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.