Doliver Advisors LP Invests $313,000 in Arista Networks, Inc. (NYSE:ANET)

Doliver Advisors LP bought a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,035 shares of the technology company's stock, valued at approximately $313,000.

Several other hedge funds also recently made changes to their positions in ANET. Caitlin John LLC boosted its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of 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 purchasing an additional 191 shares during the period. New Millennium Group LLC raised its holdings in shares of 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 purchasing an additional 195 shares during the period. Quarry LP grew its position in shares of 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 acquiring an additional 206 shares during the last quarter. Finally, Cyr Financial Inc. grew its position in shares of Arista Networks by 9.6% during the fourth quarter. Cyr Financial Inc. now owns 2,377 shares of the technology company's stock worth $263,000 after acquiring an additional 209 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ANET shares. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. The Goldman Sachs Group dropped 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. Redburn Atlantic began coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating and a $112.00 target price on the stock. Finally, KGI Securities cut shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $107.47.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,168,748.32. The trade was a 86.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $88.58, for a total transaction of $708,640.00. Following the sale, the director now directly owns 131,784 shares of the company's stock, valued at approximately $11,673,426.72. This represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,690 shares of company stock valued at $15,442,765 in the last ninety days. Company insiders own 3.39% of the company's stock.

Arista Networks Price Performance

Arista Networks stock traded up $3.11 during mid-day trading on Monday, reaching $89.75. The company had a trading volume of 9,396,349 shares, compared to its average volume of 9,031,206. The stock's 50-day simple moving average is $81.89 and its 200-day simple moving average is $96.59. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The company has a market capitalization of $112.72 billion, a P/E ratio of 40.43, a P/E/G ratio of 3.10 and a beta of 1.38.

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, beating the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The business's quarterly revenue was up 27.6% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically 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.