Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Florida Financial Advisors LLC

Florida Financial Advisors LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 181.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,234 shares of the technology company's stock after purchasing an additional 5,948 shares during the quarter. Florida Financial Advisors LLC's holdings in Arista Networks were worth $714,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ANET. Optimum Investment Advisors boosted its position in shares of Arista Networks by 31.3% during the 1st quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after purchasing an additional 125 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in shares of Arista Networks by 45.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after purchasing an additional 143 shares in the last quarter. Weaver Capital Management LLC boosted its position in shares of Arista Networks by 0.8% during the 1st quarter. Weaver Capital Management LLC now owns 21,449 shares of the technology company's stock worth $1,662,000 after purchasing an additional 162 shares in the last quarter. First American Bank boosted its position in shares of Arista Networks by 1.1% during the 1st quarter. First American Bank now owns 14,478 shares of the technology company's stock worth $1,122,000 after purchasing an additional 164 shares in the last quarter. Finally, ORG Partners LLC boosted its position in shares of Arista Networks by 43.8% during the 1st quarter. ORG Partners LLC now owns 575 shares of the technology company's stock worth $45,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. KGI Securities cut shares of Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Evercore ISI upped their target price on shares of Arista Networks from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. JPMorgan Chase & Co. lowered their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group lowered their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Citigroup upped their target price on shares of Arista Networks from $112.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $110.07.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $0.93 during trading hours on Wednesday, reaching $108.30. The company's stock had a trading volume of 6,338,444 shares, compared to its average volume of 9,174,935. The stock has a market cap of $136.01 billion, a P/E ratio of 45.84, a P/E/G ratio of 3.16 and a beta of 1.40. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a 50 day moving average price of $95.74 and a 200-day moving average price of $94.90.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate 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%. The firm's revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 748,444 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the completion of the transaction, 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 sale 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 firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $99.36, for a total transaction of $794,880.00. Following the transaction, the director directly owned 65,784 shares of the company's stock, valued at approximately $6,536,298.24. This trade represents a 10.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,123,370 shares of company stock worth $113,157,408 over the last three months. Corporate insiders own 3.54% of the company's stock.

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.