Captrust Financial Advisors Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Captrust Financial Advisors raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 367.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,772 shares of the technology company's stock after purchasing an additional 252,191 shares during the period. Captrust Financial Advisors' holdings in Arista Networks were worth $35,455,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares during the period. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 195 shares in the last quarter. Quarry LP lifted its holdings in shares of Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 206 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $1.12 during trading on Friday, reaching $86.15. 8,267,268 shares of the company traded hands, compared to its average volume of 9,107,265. The firm has a market capitalization of $108.17 billion, a PE ratio of 38.81, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a 50 day moving average price of $78.92 and a 200-day moving average price of $97.40.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business's revenue was up 27.6% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. Citigroup upped their target price on Arista Networks from $92.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $112.00 to $115.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group reduced their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday. Rosenblatt Securities raised their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Piper Sandler reissued a "neutral" rating and set a $89.00 target price (up from $76.00) on shares of Arista Networks in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.07.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred 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 approximately $512,305.20. The trade was a 16.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks 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 transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock valued at $37,216,079 over the last ninety days. 3.39% of the stock is owned by company insiders.

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.