Arista Networks, Inc. (NYSE:ANET) Position Boosted by Centaurus Financial Inc.

Centaurus Financial Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 415.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,775 shares of the technology company's stock after buying an additional 9,490 shares during the period. Centaurus Financial Inc.'s holdings in Arista Networks were worth $1,301,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Caitlin John LLC increased its position in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares in the last quarter. New Millennium Group LLC increased its position in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares in the last quarter. Quarry LP increased its position 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 in the last quarter. Finally, Dunhill Financial LLC increased its position 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 in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now owns 12,976 shares in the company, valued at $1,168,748.32. This represents a 86.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were 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. Over the last 90 days, insiders have sold 237,538 shares of company stock worth $20,748,219. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ANET shares. The Goldman Sachs Group dropped their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Evercore ISI lowered their price objective on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Barclays lowered their price objective on Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Citigroup lifted their price objective on Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. 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.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $107.47.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $0.12 during trading on Friday, hitting $86.49. The company's stock had a trading volume of 16,490,789 shares, compared to its average volume of 9,029,731. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The stock's 50-day moving average price is $81.89 and its two-hundred day moving average price is $96.59. The company has a market capitalization of $108.62 billion, a PE ratio of 38.96, a PEG ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping 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 quarter in the previous year, the firm posted $0.50 earnings per share. The company'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 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is 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.