True Wealth Design LLC Acquires 446 Shares of Arista Networks, Inc. (NYSE:ANET)

True Wealth Design LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 332.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 580 shares of the technology company’s stock after purchasing an additional 446 shares during the period. True Wealth Design LLC’s holdings in Arista Networks were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Stock Yards Bank & Trust Co. bought a new position in Arista Networks during the 4th quarter valued at approximately $242,000. GHE LLC increased its position in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after buying an additional 21,597 shares in the last quarter. Colonial River Investments LLC increased its position in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after buying an additional 7,466 shares in the last quarter. Unified Investment Management bought a new position in Arista Networks during the 4th quarter valued at approximately $630,000. Finally, Berkshire Capital Holdings Inc. increased its position in Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after buying an additional 55,430 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 17,433 shares of Arista Networks stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $96.57, for a total value of $1,683,504.81. The disclosure for this sale can be found here. Insiders have sold a total of 410,867 shares of company stock valued at $37,056,669 over the last ninety days. 3.39% of the stock is currently owned by company insiders.

Arista Networks Stock Up 0.2%

NYSE:ANET opened at $96.31 on Friday. The business’s 50-day simple moving average is $80.29 and its two-hundred day simple moving average is $97.20. The stock has a market cap of $120.95 billion, a PE ratio of 43.38, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

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

Arista Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on ANET shares. Morgan Stanley increased their target price 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 downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Rosenblatt Securities increased their target price on Arista Networks from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Citigroup raised their price target on Arista Networks from $97.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.14.

Arista Networks Company 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.