Arista Networks, Inc. (NYSE:ANET) Holdings Raised by Sava Infond d.o.o.

Sava Infond d.o.o. increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,270 shares of the technology company's stock after purchasing an additional 36,870 shares during the quarter. Arista Networks accounts for 3.8% of Sava Infond d.o.o.'s investment portfolio, making the stock its 8th largest position. Sava Infond d.o.o.'s holdings in Arista Networks were worth $20,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ANET. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% during the 4th 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. Quarry LP increased its holdings in Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Dunhill Financial LLC increased its holdings in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. McIlrath & Eck LLC purchased a new position in Arista Networks during the 4th quarter valued at about $35,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Arista Networks during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 30,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $92.23, for a total value of $2,766,900.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,196,776.48. This trade represents a 69.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. This represents a 16.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 161,690 shares of company stock valued at $14,525,085 over the last quarter. Company insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Needham & Company LLC assumed coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating for the company. The Goldman Sachs Group dropped their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Morgan Stanley lifted their price target 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. Rosenblatt Securities upped their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $109.33.

Arista Networks Price Performance

NYSE:ANET traded down $2.22 during trading hours on Friday, reaching $99.37. 10,389,025 shares of the company were exchanged, compared to its average volume of 9,083,120. The firm has a market cap of $124.81 billion, a price-to-earnings ratio of 42.06, a PEG ratio of 2.98 and a beta of 1.37. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The stock has a 50 day simple moving average of $89.99 and a 200 day simple moving average of $95.66.

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

Arista Networks announced that its board has initiated a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is 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.