Embree Financial Group Acquires Shares of 3,693 Arista Networks, Inc. (NYSE:ANET)

Embree Financial Group purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,693 shares of the technology company's stock, valued at approximately $286,000.

A number of other hedge funds have also recently made changes to their positions in ANET. Legacy Advisors LLC raised its holdings in Arista Networks by 5.1% in the 1st quarter. Legacy Advisors LLC now owns 4,255 shares of the technology company's stock worth $330,000 after acquiring an additional 207 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Arista Networks by 1.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 493,072 shares of the technology company's stock worth $38,203,000 after acquiring an additional 9,242 shares during the last quarter. Runnymede Capital Advisors Inc. raised its holdings in Arista Networks by 535.7% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 712 shares of the technology company's stock worth $55,000 after acquiring an additional 600 shares during the last quarter. Park Capital Management LLC WI purchased a new position in Arista Networks in the 1st quarter worth approximately $482,000. Finally, XML Financial LLC raised its holdings in Arista Networks by 14.5% in the 1st quarter. XML Financial LLC now owns 16,085 shares of the technology company's stock worth $1,246,000 after acquiring an additional 2,033 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $88.58, for a total transaction of $708,640.00. Following the completion of the transaction, the director now owns 131,784 shares of the company's stock, valued at $11,673,426.72. This represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company's stock, valued at $512,305.20. This trade represents a 16.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,690 shares of company stock valued at $14,525,085. Company insiders own 3.39% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI boosted their price objective on shares of Arista Networks from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Needham & Company LLC initiated coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating for the company. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, Barclays decreased their target price on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.33.

Arista Networks Stock Performance

Shares of ANET stock traded down $2.22 during mid-day trading on Friday, reaching $99.37. 10,389,025 shares of the company's stock traded hands, compared to its average volume of 9,073,337. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The firm has a 50 day moving average price of $89.99 and a two-hundred day moving average price of $95.58. The firm has a market capitalization of $124.81 billion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 2.91 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The company's revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are generally 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.