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

TCW Group Inc. trimmed its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,343 shares of the technology company’s stock after selling 14,385 shares during the quarter. TCW Group Inc.’s holdings in Arista Networks were worth $50,721,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new position in Arista Networks in the 3rd quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the 3rd quarter valued at approximately $29,000. NBC Securities Inc. acquired a new position in Arista Networks in the 3rd quarter valued at approximately $33,000. Atticus Wealth Management LLC increased its position in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in shares of Arista Networks during the fourth quarter worth $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $4,929,639.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kenneth Duda sold 14,416 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $326.03, for a total value of $4,700,048.48. Following the completion of the transaction, the senior vice president now directly owns 252,382 shares in the company, valued at $82,284,103.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $4,929,639.61. 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. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ANET shares. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. KeyCorp increased their price objective on shares of Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and increased their target price for the stock from $240.00 to $320.00 in a research note on Friday, May 3rd. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, UBS Group increased their target price on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note 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’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $295.22.

Arista Networks Stock Down 4.8 %

NYSE ANET traded down $15.08 during trading hours on Thursday, reaching $301.42. 6,624,612 shares of the company were exchanged, compared to its average volume of 2,554,666. Arista Networks, Inc. has a 1 year low of $139.18 and a 1 year high of $329.04. The business’s 50 day simple moving average is $286.42 and its 200-day simple moving average is $260.16. The stock has a market capitalization of $94.45 billion, a P/E ratio of 41.95, a P/E/G ratio of 2.87 and a beta of 1.13.

Arista Networks announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors 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.