Connecticut Wealth Management LLC Buys 3,242 Shares of Arista Networks, Inc. (NYSE:ANET)

Connecticut Wealth Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 305.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,303 shares of the technology company's stock after buying an additional 3,242 shares during the period. Connecticut Wealth Management LLC's holdings in Arista Networks were worth $476,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Caitlin John LLC grew its position in shares of 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 acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Arista Networks by 335.1% in the 4th 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 stake in Arista Networks by 300.0% in the 4th 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 grew its holdings in Arista Networks by 381.5% in the 4th 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 period. Finally, Dunhill Financial LLC raised its position in shares of Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total value of $712,240.00. Following the transaction, the director now owns 147,784 shares of the company's stock, valued at $13,157,209.52. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 237,538 shares of company stock worth $20,748,219. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Up 0.4%

NYSE:ANET traded up $0.41 on Wednesday, hitting $92.90. The stock had a trading volume of 2,064,361 shares, compared to its average volume of 8,954,771. The stock has a market cap of $116.67 billion, a price-to-earnings ratio of 41.88, a PEG ratio of 3.10 and a beta of 1.38. The company has a fifty day moving average price of $81.73 and a two-hundred day moving average price of $96.81. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58.

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

Arista Networks announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ANET. Barclays cut their price objective on Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Citigroup lifted their price objective on Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Needham & Company LLC assumed coverage on Arista Networks in a research report on Wednesday. They set a "buy" rating for the company. Morgan Stanley boosted their target price on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.47.

Arista Networks Company 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.