International Private Wealth Advisors LLC Invests $600,000 in Arista Networks, Inc. (NYSE:ANET)

International Private Wealth Advisors LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,738 shares of the technology company's stock, valued at approximately $600,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 304.2% during the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock worth $10,620,270,000 after purchasing an additional 72,311,318 shares during the period. FMR LLC boosted its holdings in Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC grew its position in Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after purchasing an additional 20,059,303 shares during the period. Geode Capital Management LLC grew its holdings in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock valued at $2,665,829,000 after buying an additional 18,293,874 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock valued at $2,328,869,000 after purchasing an additional 14,454,822 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $97.29 on Monday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock's 50-day moving average is $83.43 and its 200 day moving average is $96.55. The company has a market cap of $122.19 billion, a PE ratio of 43.82, a P/E/G ratio of 3.10 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last posted its 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. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the company posted $0.50 EPS. The company's quarterly revenue was up 27.6% compared to the same quarter last year. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has approved a stock buyback plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ANET. Piper Sandler restated 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. Citigroup lifted their target price on shares of Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Wedbush assumed coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. Finally, Needham & Company LLC started coverage on Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating on the stock. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.47.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $88.18, for a total transaction of $705,440.00. Following the sale, the director now owns 123,784 shares of the company's stock, valued at approximately $10,915,273.12. This represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,690 shares of company stock valued at $9,360,205 in the last three months. 3.39% of the stock is currently owned by company 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.

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