Prudential PLC Raises Position in Arista Networks, Inc. (NYSE:ANET)

Prudential PLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 370.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 173,979 shares of the technology company's stock after buying an additional 137,005 shares during the period. Prudential PLC's holdings in Arista Networks were worth $19,230,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew 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 valued at $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 18,293,874 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Arista Networks by 218.5% during the fourth 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 during the period. Norges Bank bought a new position in shares of Arista Networks during the fourth quarter worth approximately $1,397,833,000. Finally, State Street Corp raised its position in shares of Arista Networks by 3.8% in the third quarter. State Street Corp now owns 11,237,635 shares of the technology company's stock valued at $4,313,229,000 after buying an additional 411,109 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent analyst reports. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Evercore ISI boosted their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $114.00.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the sale, the director now directly owns 139,784 shares in the company, valued at approximately $10,840,249.20. This trade represents a 5.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $48,840,431 in the last three months. Insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $6.99 during midday trading on Friday, hitting $64.28. 21,779,499 shares of the stock were exchanged, compared to its average volume of 8,978,247. The business's 50-day moving average price is $94.01 and its 200 day moving average price is $101.21. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The stock has a market capitalization of $81.07 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30.

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. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks Company 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.