Arista Networks, Inc. (NYSE:ANET) Shares Bought by Global Assets Advisory LLC

Global Assets Advisory LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 279.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,997 shares of the technology company’s stock after purchasing an additional 3,680 shares during the period. Global Assets Advisory LLC’s holdings in Arista Networks were worth $559,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Stock Yards Bank & Trust Co. purchased a new stake in shares of Arista Networks in the fourth quarter worth about $242,000. GHE LLC boosted its holdings in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC grew its position in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares in the last quarter. Unified Investment Management purchased a new stake in shares of Arista Networks during the fourth quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. lifted its position in shares of Arista Networks by 257.6% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock worth $8,505,000 after purchasing an additional 55,430 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares of the company’s stock, valued at $13,157,209.52. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares of the company’s stock, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 412,355 shares of company stock worth $37,216,079. Company insiders own 3.39% of the company’s stock.

Arista Networks Trading Down 1.3 %

Shares of NYSE ANET opened at $86.15 on Friday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The company has a market cap of $108.17 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The stock’s 50 day simple moving average is $78.94 and its 200 day simple moving average is $97.31.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has initiated a stock repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

ANET has been the topic of several analyst reports. Rosenblatt Securities lifted their price target on shares of Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup boosted their price target on Arista Networks from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on Arista Networks from $73.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $106.07.

About Arista Networks

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.