Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 307.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,481 shares of the technology company's stock after acquiring an additional 56,935 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in Arista Networks were worth $8,343,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ANET. Caitlin John LLC grew its position in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares during the last quarter. Quarry LP grew its position in shares of Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Finally, Cyr Financial Inc. grew its position in shares of Arista Networks by 9.6% in the 4th quarter. Cyr Financial Inc. now owns 2,377 shares of the technology company's stock worth $263,000 after buying an additional 209 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Trading Up 0.3%

NYSE:ANET traded up $0.30 during trading hours on Wednesday, reaching $92.79. 5,485,567 shares of the company were exchanged, compared to its average volume of 8,975,498. The stock's 50-day moving average is $81.73 and its 200-day moving average is $96.81. The firm has a market cap of $116.54 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

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

Arista Networks declared that its Board of Directors has authorized 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on ANET shares. Citigroup boosted their target price on shares of Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Evercore ISI dropped their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley boosted their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. KGI Securities downgraded shares of Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their target price 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. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and an average target price of $107.47.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated 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 owns 12,976 shares of the company's stock, valued at approximately $1,168,748.32. This represents a 86.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. 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 currently owned by corporate insiders.

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.