Arista Networks, Inc. (NYSE:ANET) Holdings Boosted by NorthRock Partners LLC

NorthRock Partners LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 1,219.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,601 shares of the technology company's stock after purchasing an additional 12,570 shares during the quarter. NorthRock Partners LLC's holdings in Arista Networks were worth $1,503,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Caitlin John LLC lifted its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares during the period. New Millennium Group LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ANET shares. Citigroup raised their price target on Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. KGI Securities cut Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays cut their price objective on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley upped their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.14.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. This trade represents a 16.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the sale, the director now directly owns 147,784 shares in the company, valued at $13,157,209.52. This trade represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 410,867 shares of company stock worth $37,056,669. 3.39% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $0.24 on Friday, hitting $96.31. The company had a trading volume of 5,866,947 shares, compared to its average volume of 9,071,408. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company has a market cap of $120.95 billion, a PE ratio of 43.38, a PEG ratio of 3.10 and a beta of 1.38. The business has a 50-day simple moving average of $80.29 and a 200-day simple moving average of $97.20.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly 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 firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the company posted $0.50 EPS. The firm's quarterly revenue was up 27.6% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has authorized a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign 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.