MML Investors Services LLC Has $26.31 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

MML Investors Services LLC raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 270.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 238,040 shares of the technology company's stock after buying an additional 173,862 shares during the quarter. MML Investors Services LLC's holdings in Arista Networks were worth $26,311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC lifted its position in shares of Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. lifted its position in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after buying an additional 14,454,822 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Arista Networks in the 4th quarter valued at about $1,397,833,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Price Performance

NYSE:ANET traded up $4.49 during mid-day trading on Thursday, reaching $75.25. The stock had a trading volume of 11,753,218 shares, compared to its average volume of 9,114,103. The stock has a 50-day simple moving average of $81.85 and a two-hundred day simple moving average of $98.68. The stock has a market capitalization of $94.49 billion, a PE ratio of 33.90, a P/E/G ratio of 3.10 and a beta of 1.30. 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 announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the sale, the director now directly owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 410,863 shares of company stock valued at $39,344,612 in the last 90 days. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ANET shares. The Goldman Sachs Group restated a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. JPMorgan Chase & Co. cut their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Morgan Stanley cut their target price on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Evercore ISI lowered their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

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.