Diversified Trust Co Has $1.46 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Diversified Trust Co lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,881 shares of the technology company's stock after selling 8,999 shares during the quarter. Diversified Trust Co's holdings in Arista Networks were worth $1,463,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ANET. Brighton Jones LLC increased its stake in shares of Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after acquiring an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Arista Networks in the fourth quarter valued at about $202,000. Bank Pictet & Cie Europe AG increased its position in Arista Networks by 433.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock worth $1,200,000 after purchasing an additional 8,822 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Arista Networks by 319.7% during the 4th quarter. IFP Advisors Inc now owns 6,069 shares of the technology company's stock worth $671,000 after purchasing an additional 4,623 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Arista Networks by 257.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,182 shares of the technology company's stock worth $241,000 after purchasing an additional 1,571 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Trading Down 2.2%

Shares of ANET stock opened at $99.37 on Friday. The firm has a market capitalization of $124.81 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 2.91 and a beta of 1.37. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The firm's fifty day simple moving average is $89.99 and its 200 day simple moving average is $95.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business's quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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

Analyst Ratings Changes

ANET has been the topic of a number of research reports. Wedbush began coverage on Arista Networks in a report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Needham & Company LLC initiated coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating on the stock. Citigroup lifted their price objective on shares of Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Finally, BNP Paribas Exane lowered Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a report on Wednesday, June 11th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $109.33.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares of the company's stock, valued at $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 30,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $92.23, for a total transaction of $2,766,900.00. Following the transaction, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,196,776.48. This represents a 69.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 161,690 shares of company stock valued at $14,525,085 in the last quarter. Corporate insiders own 3.39% of the company's stock.

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.

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