Quadcap Wealth Management LLC Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Quadcap Wealth Management LLC increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 342.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,084 shares of the technology company's stock after acquiring an additional 3,160 shares during the quarter. Quadcap Wealth Management LLC's holdings in Arista Networks were worth $451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miracle Mile Advisors LLC bought a new position in shares of Arista Networks during the 4th quarter worth approximately $328,000. Assenagon Asset Management S.A. lifted its position in shares of Arista Networks by 133.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 331,872 shares of the technology company's stock valued at $36,682,000 after acquiring an additional 189,754 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Arista Networks by 648.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 748 shares of the technology company's stock worth $83,000 after purchasing an additional 648 shares during the period. Armstrong Advisory Group Inc. increased its stake in Arista Networks by 300.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 372 shares of the technology company's stock valued at $41,000 after purchasing an additional 279 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Arista Networks by 361.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 6,781 shares of the technology company's stock valued at $750,000 after purchasing an additional 5,312 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ANET shares. Citigroup boosted their target price on Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group decreased their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Morgan Stanley upped their price target on Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a report 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $130.00 price objective on shares of Arista Networks in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.14.

Insider Activity

In other news, insider John F. Mccool sold 17,433 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.14, for a total transaction of $1,623,709.62. Following the completion of the sale, the insider now owns 17,433 shares of the company's stock, valued at approximately $1,623,709.62. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. This trade represents a 59.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,867 shares of company stock worth $37,056,669. 3.39% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $1.10 on Tuesday, hitting $95.60. The company's stock had a trading volume of 5,878,706 shares, compared to its average volume of 9,061,097. The company has a 50-day simple moving average of $80.62 and a 200 day simple moving average of $97.19. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The company has a market capitalization of $120.07 billion, a PE ratio of 43.06, a PEG ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter last year, the firm posted $0.50 EPS. The company's revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has authorized a share repurchase plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board 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.