Baader Bank Aktiengesellschaft Has $3.28 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Key Points

• Baader Bank Aktiengesellschaft boosted its holdings in Arista Networks by 83.5%, now owning 43,245 shares valued at approximately $3.3 million.
• Analysts have mixed views on ARISTA, with JPMorgan upgrading its target price to $130.00, while Goldman Sachs decreased theirs from $130.00 to $115.00, indicating a consensus rating of "Moderate Buy".
• Insider trading activity is notable, with CEO Jayshree Ullal selling over 527,000 shares for around $60.9 million, resulting in a 7.85% decrease in her ownership.

Baader Bank Aktiengesellschaft boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 83.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,245 shares of the technology company's stock after purchasing an additional 19,677 shares during the period. Baader Bank Aktiengesellschaft's holdings in Arista Networks were worth $3,277,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ANET. HighMark Wealth Management LLC grew its position in Arista Networks by 179.7% during the 1st 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 raised its stake in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 206 shares during the last quarter. Dunhill Financial LLC raised its stake in shares of 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 purchasing an additional 212 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of Arista Networks in the first quarter worth $30,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Arista Networks in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANET shares. Redburn Atlantic started coverage on Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price objective for the company. BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Piper Sandler reaffirmed a "neutral" rating and issued a $89.00 price objective (up previously from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. KGI Securities lowered Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.00.

Arista Networks Price Performance

Shares of ANET stock traded down $5.66 on Friday, hitting $117.56. The company's stock had a trading volume of 11,553,581 shares, compared to its average volume of 10,575,626. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.57. The firm's fifty day moving average price is $100.95 and its 200-day moving average price is $95.10. The stock has a market capitalization of $147.65 billion, a price-to-earnings ratio of 49.76, a P/E/G ratio of 3.55 and a beta of 1.40.

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. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business's revenue was up 27.6% compared to the same quarter last year. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 748,444 shares of Arista Networks 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 transaction, the chief executive officer owned 30,000 shares of the company's stock, valued at $3,072,900. This trade represents a 96.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction 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 completion of the sale, the senior vice president owned 12,976 shares in the company, 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. In the last ninety days, insiders have sold 2,346,742 shares of company stock worth $256,664,827. Company insiders own 3.39% of the company's stock.

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.