Herald Investment Management Ltd Has $1.76 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Herald Investment Management Ltd lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 63.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,700 shares of the technology company's stock after selling 38,764 shares during the quarter. Herald Investment Management Ltd's holdings in Arista Networks were worth $1,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. HighMark Wealth Management LLC grew its position in shares of Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after purchasing an additional 230 shares during the last quarter. Quarry LP grew its position 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 during the last quarter. Dunhill Financial LLC grew its position 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 during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Arista Networks in the first quarter valued at approximately $30,000. Finally, McIlrath & Eck LLC acquired a new position in shares of Arista Networks in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $111.19, for a total value of $3,335,700.00. Following the completion of the transaction, the senior vice president directly owned 12,976 shares in the company, valued at approximately $1,442,801.44. This represents a 69.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 880,180 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $124.79, for a total value of $109,837,662.20. Following the completion of the transaction, the chief executive officer owned 5,944,405 shares of the company's stock, valued at $741,802,299.95. The trade was a 12.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,443,742 shares of company stock valued at $395,523,885 over the last quarter. 3.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on ANET. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. KeyCorp increased their price target on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wedbush began coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. BNP Paribas downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Finally, UBS Group increased their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

Arista Networks Price Performance

NYSE ANET opened at $139.26 on Friday. The business has a fifty day moving average price of $104.55 and a two-hundred day moving average price of $95.41. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $141.01. The stock has a market capitalization of $174.90 billion, a PE ratio of 54.77, a PEG ratio of 4.00 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company's quarterly revenue was up 30.4% on a year-over-year basis. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Arista Networks Company 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.

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