13,670 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by 180 Wealth Advisors LLC

180 Wealth Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,670 shares of the technology company's stock, valued at approximately $1,059,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caitlin John LLC lifted its stake 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 acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its holdings 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 purchasing an additional 191 shares in the last quarter. Quarry LP lifted its position in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares during the period. Dunhill Financial LLC lifted its position in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares during the period. Finally, Tradewinds Capital Management LLC increased its position in Arista Networks by 300.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock worth $34,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ANET shares. The Goldman Sachs Group lowered their price target on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Evercore ISI reduced their price objective on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wedbush began coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. Needham & Company LLC began coverage on Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating on the stock. Finally, Redburn Atlantic initiated coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective for the company. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $107.47.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $88.58, for a total value of $708,640.00. Following the completion of the transaction, the director now directly owns 131,784 shares of the company's stock, valued at approximately $11,673,426.72. The trade was a 5.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at $1,101,013.60. This represents a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,690 shares of company stock worth $15,442,765 in the last ninety days. 3.39% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $4.76 during trading on Tuesday, hitting $94.54. The company's stock had a trading volume of 12,106,740 shares, compared to its average volume of 9,043,536. The company has a market capitalization of $118.73 billion, a PE ratio of 42.59, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The stock's 50-day moving average price is $82.05 and its two-hundred day moving average price is $96.56.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the business earned $0.50 EPS. Arista Networks's revenue for the quarter was up 27.6% compared to the same quarter last year. On average, equities analysts predict 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 authorized a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are 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.