Arista Networks, Inc. (NYSE:ANET) Stock Holdings Reduced by Sather Financial Group Inc

Key Points

• Sather Financial Group Inc has reduced its stake in Arista Networks by 0.7%, maintaining approximately 4.8% of its portfolio in the company, valued at around $74 million.
• Insider sales have been notable, with CEO Jayshree Ullal selling 748,444 shares for approximately $76.7 million, marking a 96.15% decrease in her position.
• Analysts show a mixed outlook with BNP Paribas Exane downgrading to "neutral" while others, like JPMorgan Chase, raised the price target to $130.00, contributing to a consensus rating of "Moderate Buy".

Sather Financial Group Inc reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 956,602 shares of the technology company's stock after selling 6,515 shares during the quarter. Arista Networks accounts for approximately 4.8% of Sather Financial Group Inc's portfolio, making the stock its 6th largest holding. Sather Financial Group Inc owned 0.08% of Arista Networks worth $74,118,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ANET. HighMark Wealth Management LLC increased its position in shares of Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after buying an additional 230 shares in the last quarter. Quarry LP grew its stake in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. Dunhill Financial LLC grew its stake in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Arista Networks during the 1st quarter valued at about $30,000. Finally, McIlrath & Eck LLC acquired a new position in Arista Networks during the fourth quarter worth about $35,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $99.36, for a total value of $794,880.00. Following the transaction, the director directly owned 65,784 shares of the company's stock, valued at $6,536,298.24. The trade was a 10.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 748,444 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $3,072,900. The trade was a 96.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,177,878 shares of company stock worth $119,281,861 over the last three months. 3.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BNP Paribas Exane lowered shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a research report on Wednesday, June 11th. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday. Wolfe Research assumed coverage on Arista Networks in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. boosted their price target on Arista Networks from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, KGI Securities downgraded Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $111.40.

Arista Networks Stock Performance

Arista Networks stock opened at $114.37 on Friday. The company has a market cap of $143.64 billion, a price-to-earnings ratio of 48.41, a PEG ratio of 3.31 and a beta of 1.40. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.57. The firm has a 50 day moving average price of $98.86 and a 200 day moving average price of $94.94.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The business's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has authorized 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are 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.

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