67,528 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Cache Advisors LLC

Cache Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 67,528 shares of the technology company's stock, valued at approximately $7,464,000. Arista Networks accounts for approximately 2.8% of Cache Advisors LLC's holdings, making the stock its 11th largest position.

Several other hedge funds have also recently bought and sold shares of the stock. Caitlin John LLC raised its holdings in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. New Millennium Group LLC raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Quarry LP increased its holdings in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $512,305.20. This represents a 16.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 237,538 shares of company stock worth $20,748,219 over the last ninety days. Insiders own 3.54% of the company's stock.

Arista Networks Trading Up 0.3%

ANET stock traded up $0.30 during trading on Wednesday, hitting $92.79. The company had a trading volume of 5,401,752 shares, compared to its average volume of 8,967,747. The business has a 50-day moving average of $81.73 and a 200-day moving average of $96.81. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The stock has a market cap of $116.54 billion, a PE ratio of 41.80, a PEG ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The firm's revenue was up 27.6% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI lowered their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group lowered their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC assumed coverage on shares of Arista Networks in a report on Wednesday. They set a "buy" rating on the stock. Wedbush assumed coverage on shares of Arista Networks in a report on Wednesday. They set an "outperform" rating on the stock. Finally, Rosenblatt Securities boosted their target price on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.47.

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.