MetLife Investment Management LLC Purchases 102,135 Shares of Arista Networks, Inc. (NYSE:ANET)

MetLife Investment Management LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 129.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 180,850 shares of the technology company's stock after purchasing an additional 102,135 shares during the period. MetLife Investment Management LLC's holdings in Arista Networks were worth $19,989,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new stake in Arista Networks in the third quarter valued at approximately $123,000. Virtu Financial LLC purchased a new stake in shares of Arista Networks during the 3rd quarter valued at $1,752,000. World Investment Advisors LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth $401,000. Wilmington Savings Fund Society FSB purchased a new position in Arista Networks in the third quarter worth $2,222,000. Finally, Tidal Investments LLC increased its stake in Arista Networks by 5.6% in the third quarter. Tidal Investments LLC now owns 37,383 shares of the technology company's stock valued at $14,348,000 after acquiring an additional 1,998 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Stock Up 6.5 %

Shares of ANET stock traded up $4.62 during trading hours on Thursday, hitting $75.38. 6,232,150 shares of the company's stock traded hands, compared to its average volume of 9,093,464. The stock has a market cap of $94.65 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 3.10 and a beta of 1.30. The stock's fifty day simple moving average is $81.85 and its two-hundred day simple moving average is $98.68. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares of the company's stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now directly owns 139,784 shares in the company, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 410,863 shares of company stock valued at $39,344,612. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ANET. JPMorgan Chase & Co. cut their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup decreased their price target on shares of Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI lowered their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $104.29.

About Arista Networks

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.