Sendero Wealth Management LLC Has $11.54 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Sendero Wealth Management LLC raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 31.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,993 shares of the technology company's stock after acquiring an additional 35,752 shares during the period. Arista Networks accounts for approximately 1.6% of Sendero Wealth Management LLC's portfolio, making the stock its 13th largest position. Sendero Wealth Management LLC's holdings in Arista Networks were worth $11,544,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ANET. Brighton Jones LLC lifted its position in 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 acquiring an additional 5,955 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth $202,000. DAVENPORT & Co LLC grew its position in Arista Networks by 356.2% in the 4th quarter. DAVENPORT & Co LLC now owns 26,977 shares of the technology company's stock valued at $2,982,000 after buying an additional 21,064 shares during the last quarter. Journey Strategic Wealth LLC purchased a new position in Arista Networks during the 4th quarter worth $212,000. Finally, Golden State Equity Partners lifted its stake in shares of Arista Networks by 440.8% in the 4th quarter. Golden State Equity Partners now owns 2,293 shares of the technology company's stock worth $253,000 after acquiring an additional 1,869 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company's stock, valued at approximately $512,305.20. This represents a 16.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,690 shares of company stock valued at $9,360,205 in the last three months. 3.39% of the stock is currently owned by company insiders.

Arista Networks Stock Up 0.2%

NYSE ANET traded up $0.17 on Thursday, reaching $95.11. 7,929,264 shares of the stock traded hands, compared to its average volume of 9,050,346. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The firm's fifty day simple moving average is $82.70 and its 200 day simple moving average is $96.54. The company has a market cap of $119.45 billion, a price-to-earnings ratio of 42.84, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company's revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share repurchase program on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Needham & Company LLC initiated coverage on Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating on the stock. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Wedbush assumed coverage on Arista Networks in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. Finally, Piper Sandler restated a "neutral" rating and issued a $89.00 target price (up from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $107.47.

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.