Robeco Institutional Asset Management B.V. Sells 92,755 Shares of Arista Networks, Inc. (NYSE:ANET)

Robeco Institutional Asset Management B.V. lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 59.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,174 shares of the technology company’s stock after selling 92,755 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Arista Networks were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. AXQ Capital LP bought a new stake in shares of Arista Networks in the 3rd quarter worth $791,000. Lebenthal Global Advisors LLC bought a new stake in Arista Networks in the 4th quarter worth about $662,000. Advisor Resource Council raised its position in Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after buying an additional 5,866 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Arista Networks by 4.6% during the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock valued at $1,047,000 after acquiring an additional 194 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Arista Networks by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 2,606 shares of the technology company’s stock valued at $614,000 after acquiring an additional 179 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE ANET opened at $306.55 on Friday. The stock has a market cap of $96.06 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.13. Arista Networks, Inc. has a 1 year low of $148.32 and a 1 year high of $329.04. The firm has a fifty day moving average price of $287.34 and a 200-day moving average price of $261.43.

Arista Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 7th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

ANET has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Wednesday, May 8th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, KeyCorp increased their target price on Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $295.22.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 414,109 shares of company stock valued at $121,583,803. Company insiders own 3.54% of the company’s stock.

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.