Integrated Advisors Network LLC Has $530,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Integrated Advisors Network LLC lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 59.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,845 shares of the technology company's stock after selling 10,031 shares during the period. Integrated Advisors Network LLC's holdings in Arista Networks were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC lifted its stake in shares of Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC lifted its stake in shares of Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 5.7%

ANET traded down $5.42 during trading on Tuesday, hitting $89.67. The stock had a trading volume of 11,785,662 shares, compared to its average volume of 9,032,775. The firm has a market cap of $112.62 billion, a PE ratio of 37.96, a P/E/G ratio of 2.79 and a beta of 1.37. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The company has a 50 day simple moving average of $86.61 and a 200-day simple moving average of $96.24.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. The business had revenue of $2 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. The trade was a 16.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,690 shares of company stock worth $9,360,205. Corporate insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

ANET has been the subject of several recent research reports. Citigroup increased 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. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. BNP Paribas Exane lowered shares of 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. Finally, KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $107.38.

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.