Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Trilogy Capital Inc.

Key Points

• Trilogy Capital Inc. increased its stake in Arista Networks by 13.7% during the first quarter, now holding 25,625 shares worth approximately $1.985 million.
• Insider transactions revealed that SVP Kenneth Duda and CEO Jayshree Ullal sold significant portions of their shares, with Duda's sale decreasing his holdings by 69.81% and Ullal's by 96.15%.
• Multiple research analysts have rated Arista Networks' stock positively, with a consensus rating of "Moderate Buy" and an average price target of $111.40, reflecting strong growth prospects.

Trilogy Capital Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,625 shares of the technology company's stock after purchasing an additional 3,079 shares during the period. Trilogy Capital Inc.'s holdings in Arista Networks were worth $1,985,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FMR LLC lifted its holdings in shares of Arista Networks by 330.9% during the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after purchasing an additional 44,269,572 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock valued at $2,665,829,000 after purchasing an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. raised its position in Arista Networks by 218.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after buying an additional 14,454,822 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Arista Networks by 330.8% during the fourth quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after buying an additional 8,671,235 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $111.19, for a total transaction of $3,335,700.00. Following the completion of the sale, the senior vice president owned 12,976 shares in the company, valued at $1,442,801.44. This represents a 69.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 748,444 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $102.43, for a total value of $76,663,118.92. Following the sale, the chief executive officer owned 30,000 shares of the company's stock, valued at approximately $3,072,900. The trade was a 96.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,177,878 shares of company stock worth $119,281,861. 3.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ANET shares. JPMorgan Chase & Co. upped their price target on Arista Networks from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Needham & Company LLC started coverage on Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating on the stock. The Goldman Sachs Group dropped their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wedbush started coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. Finally, Wolfe Research started coverage on Arista Networks in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $111.40.

Arista Networks Stock Performance

ANET opened at $114.37 on Friday. The company has a market cap of $143.64 billion, a PE ratio of 48.41, a price-to-earnings-growth ratio of 3.31 and a beta of 1.40. The stock has a 50-day moving average of $98.86 and a 200-day moving average of $94.94. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The firm's revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 EPS. On average, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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

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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