Cache Advisors LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

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

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

Arista Networks Price Performance

Shares of Arista Networks stock traded down $5.40 during trading on Thursday, hitting $87.39. The company's stock had a trading volume of 9,269,415 shares, compared to its average volume of 8,978,880. The stock has a market cap of $109.76 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The stock has a 50-day moving average price of $81.92 and a two-hundred day moving average price of $96.78. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

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

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

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 51,848 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders sold 237,538 shares of company stock valued at $20,748,219 in the last three months. Company insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ANET. JPMorgan Chase & Co. cut their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group cut their target price on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Citigroup raised their price target on Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Needham & Company LLC assumed coverage on Arista Networks in a research report on Wednesday. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.