Keybank National Association OH Has $11.14 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Keybank National Association OH decreased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,808 shares of the technology company's stock after selling 5,812 shares during the quarter. Keybank National Association OH's holdings in Arista Networks were worth $11,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its stake in shares of Arista Networks by 45.8% in the 1st 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 during the last quarter. Weaver Capital Management LLC increased its position in Arista Networks by 0.8% during the first quarter. Weaver Capital Management LLC now owns 21,449 shares of the technology company's stock worth $1,662,000 after buying an additional 162 shares during the last quarter. First American Bank raised its holdings in Arista Networks by 1.1% during the first quarter. First American Bank now owns 14,478 shares of the technology company's stock valued at $1,122,000 after buying an additional 164 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Arista Networks by 43.8% during the 1st quarter. ORG Partners LLC now owns 575 shares of the technology company's stock worth $45,000 after acquiring an additional 175 shares in the last quarter. Finally, RMR Wealth Builders increased its holdings in shares of Arista Networks by 0.6% during the 1st quarter. RMR Wealth Builders now owns 30,642 shares of the technology company's stock valued at $2,374,000 after acquiring an additional 180 shares during 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 firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $92.23, for a total transaction of $2,397,980.00. Following the completion of the transaction, the senior vice president owned 592,400 shares in the company, valued at $54,637,052. This trade represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $99.36, for a total value of $794,880.00. Following the completion of the transaction, the director directly owned 65,784 shares of the company's stock, valued at approximately $6,536,298.24. The trade was a 10.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,400 shares of company stock valued at $113,159,520 over the last quarter. 3.39% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of ANET traded up $1.32 on Thursday, reaching $102.45. 5,296,699 shares of the stock traded hands, compared to its average volume of 9,088,547. The stock's 50-day moving average price is $91.90 and its 200-day moving average price is $95.50. The firm has a market cap of $128.66 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 2.88 and a beta of 1.40. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results 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. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The business's revenue was up 27.6% compared to the same quarter last year. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wedbush assumed coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating for the company. Citigroup upped their price objective on shares of Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays cut their target price 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. Finally, BNP Paribas Exane downgraded Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a research report on Wednesday, June 11th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.33.

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.