TCW Group Inc. Sells 14,385 Shares of Arista Networks, Inc. (NYSE:ANET)

TCW Group Inc. decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 215,343 shares of the technology company’s stock after selling 14,385 shares during the quarter. TCW Group Inc. owned about 0.07% of Arista Networks worth $50,721,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ANET. FMR LLC grew its position in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Norges Bank acquired a new stake in Arista Networks in the 4th quarter valued at $586,051,000. Schroder Investment Management Group grew its position in Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after purchasing an additional 1,025,815 shares during the period. International Assets Investment Management LLC grew its position in Arista Networks by 25,188.0% in the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after purchasing an additional 611,312 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Arista Networks by 294.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock worth $175,604,000 after acquiring an additional 556,568 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. Barclays boosted their price target on shares of Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a report on Wednesday, May 8th. One investment 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.22.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 11,650 shares of Arista Networks stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.28, for a total value of $3,335,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Marc Taxay sold 11,650 shares of Arista Networks stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.28, for a total value of $3,335,162.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 14,416 shares of Arista Networks stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $326.03, for a total value of $4,700,048.48. Following the completion of the sale, the senior vice president now owns 252,382 shares of the company’s stock, valued at $82,284,103.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 394,836 shares of company stock worth $115,437,764. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 4.8 %

Shares of NYSE:ANET traded down $15.08 during trading on Thursday, reaching $301.42. 6,624,612 shares of the company traded hands, compared to its average volume of 2,554,666. The firm has a market capitalization of $94.45 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 2.87 and a beta of 1.13. Arista Networks, Inc. has a 52-week low of $139.18 and a 52-week high of $329.04. The business’s fifty day moving average is $286.42 and its 200-day moving average is $260.16.

Arista Networks announced that its board has initiated a share buyback plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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.