Kintegral Advisory LLC Has $648,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Kintegral Advisory LLC trimmed its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,363 shares of the technology company's stock after selling 4,096 shares during the quarter. Kintegral Advisory LLC's holdings in Arista Networks were worth $648,000 at the end of the most recent quarter.

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

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 748,444 shares of Arista Networks stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $102.43, for a total value of $76,663,118.92. Following the sale, the chief executive officer owned 30,000 shares of the company's stock, valued at $3,072,900. This trade represents a 96.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $99.36, for a total transaction 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. This trade represents a 10.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,123,400 shares of company stock worth $113,159,520 over the last 90 days. 3.39% of the stock is owned by insiders.

Arista Networks Trading Up 1.3%

ANET stock traded up $1.32 during midday trading on Friday, hitting $102.45. The stock had a trading volume of 5,296,699 shares, compared to its average volume of 9,105,538. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The stock has a 50-day simple moving average of $92.93 and a 200 day simple moving average of $95.33. The firm has a market capitalization of $128.66 billion, a price-to-earnings ratio of 43.36, a P/E/G ratio of 2.99 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the business earned $0.50 earnings per share. The business's revenue was up 27.6% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has approved a share repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ANET shares. Morgan Stanley lifted 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. Piper Sandler reiterated a "neutral" rating and issued a $89.00 target price (up from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. BNP Paribas Exane downgraded shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a research note on Wednesday, June 11th. KGI Securities cut shares of Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $109.33.

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.