4,143 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Synergy Asset Management LLC

Synergy Asset Management LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,143 shares of the technology company's stock, valued at approximately $321,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. DSG Capital Advisors LLC acquired a new stake in Arista Networks in the 4th quarter valued at approximately $5,984,000. Ibex Wealth Advisors increased its position in Arista Networks by 14.4% in the 1st quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company's stock valued at $4,501,000 after acquiring an additional 7,329 shares during the period. GHE LLC increased its position in Arista Networks by 319.0% in the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock valued at $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC increased its position in Arista Networks by 327.6% in the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock valued at $1,077,000 after acquiring an additional 7,466 shares during the period. Finally, Unified Investment Management acquired a new stake in Arista Networks in the 4th quarter valued at approximately $630,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. Rosenblatt Securities raised their target price on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Barclays lowered their price target on Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Wedbush began coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. UBS Group upgraded Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Erste Group Bank cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.20.

Insider Transactions at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now owns 7,480 shares of the company's stock, valued at $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now directly owns 139,784 shares of the company's stock, valued at approximately $10,840,249.20. The trade was a 5.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 161,690 shares of company stock valued at $14,525,085 over the last quarter. Company insiders own 3.54% of the company's stock.

Arista Networks Stock Down 4.5%

ANET opened at $86.18 on Monday. The firm has a market cap of $108.23 billion, a PE ratio of 36.48, a P/E/G ratio of 2.53 and a beta of 1.37. The business has a fifty day simple moving average of $87.52 and a 200-day simple moving average of $95.85. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

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

Arista Networks announced that its board has initiated a share repurchase 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 typically an indication that the company's management believes its shares are undervalued.

Arista Networks Company 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.

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