G&S Capital LLC Purchases 3,006 Shares of Arista Networks, Inc. (NYSE:ANET)

G&S Capital LLC grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 95.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,142 shares of the technology company's stock after acquiring an additional 3,006 shares during the period. G&S Capital LLC's holdings in Arista Networks were worth $476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighMark Wealth Management LLC boosted its holdings in Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares in the last quarter. Quarry LP lifted its holdings in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC lifted its holdings in shares of Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Arista Networks in the fourth quarter valued at about $35,000. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock valued at $35,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 26,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $92.23, for a total value of $2,397,980.00. Following the completion of the sale, the senior vice president directly owned 592,400 shares of the company's stock, valued at $54,637,052. The trade was a 4.20% 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 Kelly Bodnar Battles sold 1,492 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 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 disclosure for this sale can be found here. In the last three months, insiders have sold 273,488 shares of company stock valued at $26,127,594. 3.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. Barclays dropped their price target on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. KeyCorp began coverage on shares of Arista Networks in a research note on Thursday, June 26th. They issued an "overweight" rating and a $115.00 target price for the company. Rosenblatt Securities upped their target price on shares of Arista Networks from $85.00 to $87.00 and gave the company 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 upped their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $109.33.

Arista Networks Trading Up 0.1%

Shares of ANET traded up $0.06 during midday trading on Wednesday, hitting $98.97. The stock had a trading volume of 3,287,436 shares, compared to its average volume of 9,073,319. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The business has a 50-day simple moving average of $91.29 and a two-hundred day simple moving average of $95.46. The firm has a market cap of $124.30 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.40.

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, topping the consensus estimate of $0.59 by $0.06. The business 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 30.48%. The firm's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, 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 share buyback plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is 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.