Arista Networks, Inc. (NYSE:ANET) Shares Sold by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. trimmed its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 36.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,936 shares of the technology company's stock after selling 4,560 shares during the period. Huntleigh Advisors Inc.'s holdings in Arista Networks were worth $615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Arista Networks by 321.7% during the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after buying an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in Arista Networks in the 4th quarter valued at about $202,000. Bank Pictet & Cie Europe AG raised its stake in Arista Networks by 433.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock valued at $1,200,000 after purchasing an additional 8,822 shares during the last quarter. Fisher Asset Management LLC raised its stake in Arista Networks by 307.8% in the 4th quarter. Fisher Asset Management LLC now owns 27,392 shares of the technology company's stock valued at $3,028,000 after purchasing an additional 20,675 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in Arista Networks by 356.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,300 shares of the technology company's stock valued at $144,000 after purchasing an additional 1,015 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total value of $705,440.00. Following the completion of the transaction, the director owned 123,784 shares in the company, valued at $10,915,273.12. This represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 748,444 shares of the company'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 value 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 approximately $3,072,900. This represents a 96.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,123,400 shares of company stock worth $113,159,520 in the last 90 days. 3.39% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ANET. Citigroup boosted their target price on shares of Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. KeyCorp assumed coverage on shares of Arista Networks in a research note on Thursday, June 26th. They issued an "overweight" rating and a $115.00 target price for the company. Evercore ISI lifted their price target on Arista Networks from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Rosenblatt Securities lifted their price target on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target for the company. in a report on Wednesday, June 11th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and an average target price of $109.33.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $1.32 during trading on Friday, reaching $102.45. 5,296,699 shares of the stock were exchanged, compared to its average volume of 9,105,538. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The firm has a market cap of $128.66 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 2.99 and a beta of 1.40. The firm's 50-day moving average price is $92.93 and its 200 day moving average price is $95.33.

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 for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. Arista Networks's quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is 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.