Crossmark Global Holdings Inc. Buys 37,877 Shares of Arista Networks, Inc. (NYSE:ANET)

Crossmark Global Holdings Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 12.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 330,552 shares of the technology company's stock after acquiring an additional 37,877 shares during the period. Crossmark Global Holdings Inc.'s holdings in Arista Networks were worth $25,611,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Arista Networks by 16.4% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 20,945 shares of the technology company's stock valued at $1,623,000 after purchasing an additional 2,955 shares in the last quarter. Pacific Point Advisors LLC acquired a new position in Arista Networks during the 1st quarter worth $1,463,000. Financial Counselors Inc. boosted its position in Arista Networks by 69.0% in the 1st quarter. Financial Counselors Inc. now owns 3,340 shares of the technology company's stock valued at $259,000 after buying an additional 1,364 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Arista Networks by 7.6% during the 1st quarter. TD Private Client Wealth LLC now owns 19,638 shares of the technology company's stock worth $1,522,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its position in Arista Networks by 7.7% during the 1st quarter. Capital Advisors Inc. OK now owns 2,757 shares of the technology company's stock valued at $214,000 after purchasing an additional 197 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ANET shares. 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 research report on Thursday, May 1st. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, BNP Paribas Exane downgraded 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. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus price target of $109.33.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president owned 12,976 shares in the company, valued at approximately $1,168,748.32. This represents a 86.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 748,444 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the sale, the chief executive officer owned 30,000 shares of the company's stock, valued at $3,072,900. This trade represents a 96.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,123,370 shares of company stock valued at $113,157,408. 3.39% of the stock is owned by corporate insiders.

Arista Networks Stock Up 0.1%

Shares of ANET stock traded up $0.13 during trading on Thursday, reaching $106.41. The company's stock had a trading volume of 9,369,100 shares, compared to its average volume of 9,139,914. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The business has a fifty day moving average price of $94.33 and a 200-day moving average price of $95.20. The company has a market cap of $133.64 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 3.01 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 40.72% and a return on equity of 30.48%. The company's quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management 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.