Focus Partners Advisor Solutions LLC Acquires 3,469 Shares of Arista Networks, Inc. (NYSE:ANET)

Focus Partners Advisor Solutions LLC grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 469.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,208 shares of the technology company's stock after buying an additional 3,469 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Arista Networks were worth $465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Caitlin John LLC lifted its holdings 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 in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Arista Networks by 335.1% during the 4th 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 last quarter. New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the 4th 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 last quarter. Quarry LP grew its holdings in Arista Networks by 381.5% during 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 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. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the sale, the director now owns 147,784 shares in the company, valued at $13,157,209.52. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares of the company's stock, valued at approximately $512,305.20. This represents a 16.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 237,538 shares of company stock valued at $20,748,219 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the topic of several recent research reports. Wedbush initiated coverage on Arista Networks in a research report on Wednesday. They issued an "outperform" rating on the stock. Piper Sandler reissued a "neutral" rating and issued a $89.00 target price (up previously from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. KGI Securities cut shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Finally, Citigroup upped 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. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.47.

Arista Networks Trading Down 6.9%

Shares of Arista Networks stock traded down $6.43 during trading hours on Thursday, reaching $86.36. The stock had a trading volume of 17,860,900 shares, compared to its average volume of 10,963,938. The firm has a market capitalization of $108.46 billion, a price-to-earnings ratio of 38.90, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.57. The firm has a 50 day simple moving average of $81.92 and a two-hundred day simple moving average of $96.78.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS 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 firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $0.50 earnings per share. Arista Networks's revenue for the quarter was up 27.6% compared to the same quarter last year. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has initiated a share repurchase plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase 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 stock is undervalued.

About Arista Networks

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.