EP Wealth Advisors LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

EP Wealth Advisors LLC grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 251.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,874 shares of the technology company's stock after purchasing an additional 39,981 shares during the quarter. EP Wealth Advisors LLC's holdings in Arista Networks were worth $6,176,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ANET. Caitlin John LLC increased its position in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont boosted its stake in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Down 4.7 %

Shares of Arista Networks stock opened at $86.51 on Thursday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm's 50-day moving average price is $78.89 and its 200 day moving average price is $97.50. The firm has a market capitalization of $108.62 billion, a PE ratio of 38.97, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share 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 analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $0.50 EPS. The firm's revenue for the quarter was up 27.6% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on ANET. JPMorgan Chase & Co. lowered their price objective on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. KGI Securities downgraded Arista Networks to a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup upped their target price on Arista Networks from $92.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. 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, the stock has an average rating of "Moderate Buy" and an average target price of $106.57.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 332,355 shares of company stock valued at $30,010,479 in the last ninety days. 3.39% of the stock is currently owned by corporate 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.

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