Arista Networks, Inc. (NYSE:ANET) Stock Holdings Increased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561,301 shares of the technology company's stock after buying an additional 82,820 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Arista Networks were worth $43,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighMark Wealth Management LLC lifted its holdings in Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after acquiring an additional 230 shares during the last quarter. Quarry LP lifted its holdings in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 206 shares during the last quarter. Dunhill Financial LLC lifted its holdings in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Cloud Capital Management LLC bought a new position in Arista Networks in the first quarter worth about $30,000. Finally, McIlrath & Eck LLC bought a new position in Arista Networks in the fourth quarter worth about $35,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Down 4.6%

NYSE ANET opened at $117.56 on Friday. The stock's 50-day moving average price is $101.48 and its two-hundred day moving average price is $95.12. The company has a market cap of $147.65 billion, a PE ratio of 49.76, a PEG ratio of 3.58 and a beta of 1.37. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2 billion for 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 business's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. Research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wedbush assumed coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued an "outperform" rating for the company. KGI Securities cut shares of Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. KeyCorp started coverage on shares of Arista Networks in a research report on Thursday, June 26th. They set an "overweight" rating and a $115.00 price objective for the company. Finally, Wolfe Research started coverage on shares of Arista Networks in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.00.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 864 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $114.68, for a total value of $99,083.52. Following the completion of the sale, the director directly owned 7,460 shares of the company's stock, valued at $855,512.80. This represents a 10.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owned 12,976 shares of the company's stock, valued at $1,442,801.44. This trade represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,635,562 shares of company stock valued at $291,955,743 over the last ninety days. 3.39% of the stock is owned by company insiders.

Arista Networks Company 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.

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