APG Asset Management N.V. Purchases 1,106,833 Shares of Arista Networks, Inc. (NYSE:ANET)

APG Asset Management N.V. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 2,518.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,150,779 shares of the technology company’s stock after acquiring an additional 1,106,833 shares during the quarter. APG Asset Management N.V. owned about 0.09% of Arista Networks worth $122,835,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the company’s 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 directly owns 8,128 shares in the company, valued at $870,752.64. This represents a 15.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 411,001 shares of company stock worth $39,362,831 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 5.8 %

Shares of ANET opened at $68.12 on Tuesday. The firm has a market cap of $85.91 billion, a P/E ratio of 30.68, a PEG ratio of 3.10 and a beta of 1.30. The stock’s 50 day moving average is $93.37 and its two-hundred day moving average is $101.18. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58.

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

Analyst Ratings Changes

A number of research analysts have issued reports on ANET shares. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday, February 18th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Citigroup raised their price objective on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. 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’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $114.00.

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.