Marshall Financial Group LLC Purchases New Holdings in Arista Networks, Inc. (NYSE:ANET)

Marshall Financial Group LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,951 shares of the technology company's stock, valued at approximately $461,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Vanguard Group Inc. grew its position in Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after buying an additional 72,311,318 shares during the period. FMR LLC raised its holdings in shares of Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares during the period. Cresset Asset Management LLC increased its holdings in Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now owns 7,480 shares of the company's stock, valued at approximately $512,305.20. This trade represents a 16.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company's stock, valued at $10,840,249.20. This trade represents a 5.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,690 shares of company stock valued at $9,360,205. 3.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Piper Sandler reiterated a "neutral" rating and issued a $89.00 price objective (up from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. KGI Securities cut Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.38.

Arista Networks Stock Up 2.7%

ANET stock traded up $2.45 during mid-day trading on Monday, hitting $94.80. The company had a trading volume of 4,264,123 shares, compared to its average volume of 9,024,962. The company has a market capitalization of $119.06 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 3.10 and a beta of 1.37. The company has a 50-day moving average price of $85.82 and a 200 day moving average price of $96.33. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58.

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 return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The company's revenue was up 27.6% compared to the same quarter last year. As a group, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has authorized a stock 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors 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.