Catalyst Capital Advisors LLC Acquires 4,690 Shares of Arista Networks, Inc. (NYSE:ANET)

Catalyst Capital Advisors LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 65.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,830 shares of the technology company's stock after buying an additional 4,690 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Arista Networks were worth $917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. HighMark Wealth Management LLC grew its stake 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 worth $28,000 after purchasing an additional 230 shares during the last quarter. Quarry LP grew its stake in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares during the last quarter. Dunhill Financial LLC grew 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. McIlrath & Eck LLC bought a new stake in shares of Arista Networks in the fourth quarter worth $35,000. Finally, Tradewinds Capital Management LLC grew its stake in shares of Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $99.36, for a total transaction of $794,880.00. Following the completion of the transaction, the director directly owned 65,784 shares of the company's stock, valued at $6,536,298.24. This represents a 10.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 748,444 shares of the 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 directly owned 30,000 shares of the company's stock, valued at $3,072,900. This represents a 96.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,123,400 shares of company stock worth $113,159,520. Insiders own 3.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ANET. Barclays reduced their price objective on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price target on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Finally, Needham & Company LLC initiated coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.33.

Arista Networks Trading Up 1.3%

Shares of ANET traded up $1.32 on Friday, reaching $102.45. The company's stock had a trading volume of 5,296,699 shares, compared to its average volume of 9,105,538. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The stock has a market capitalization of $128.66 billion, a PE ratio of 43.36, a PEG ratio of 2.99 and a beta of 1.40. The firm has a fifty day moving average of $92.93 and a 200-day moving average of $95.33.

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. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The firm's revenue was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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

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.