3,333 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Northwest Wealth Management LLC

Northwest Wealth Management LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,333 shares of the technology company's stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. Brighton Jones LLC increased its stake in Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after acquiring an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Arista Networks in the fourth quarter valued at $202,000. Bank Pictet & Cie Europe AG increased its stake in Arista Networks by 433.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock valued at $1,200,000 after acquiring an additional 8,822 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Arista Networks by 257.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,182 shares of the technology company's stock valued at $241,000 after acquiring an additional 1,571 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Arista Networks in the fourth quarter valued at $3,866,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BNP Paribas cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective on the stock. in a research note on Wednesday, June 11th. Evercore ISI raised their price objective on Arista Networks from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Barclays reduced their price objective on Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus target price of $109.33.

Arista Networks Price Performance

Shares of ANET opened at $99.37 on Monday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The company has a 50-day simple moving average of $89.99 and a two-hundred day simple moving average of $95.50. The firm has a market capitalization of $124.81 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 2.90 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business posted $0.50 earnings per share. Arista Networks's quarterly revenue was up 27.6% compared to the same quarter last year. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,196,776.48. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the transaction, the director now owns 139,784 shares of the company's stock, valued at $10,840,249.20. The trade was a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,690 shares of company stock worth $14,525,085. Insiders own 3.39% of the company's stock.

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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