Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,192 shares of the technology company's stock after acquiring an additional 4,681 shares during the quarter. Arista Networks comprises approximately 0.7% of Linden Thomas Advisory Services LLC's investment portfolio, making the stock its 17th largest holding. Linden Thomas Advisory Services LLC's holdings in Arista Networks were worth $5,206,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ANET. DSG Capital Advisors LLC acquired a new stake in Arista Networks during the 4th quarter worth about $5,984,000. Ibex Wealth Advisors grew its stake in Arista Networks by 14.4% in the 1st quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company's stock valued at $4,501,000 after acquiring an additional 7,329 shares during the period. Berkshire Capital Holdings Inc. grew its stake in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock valued at $8,505,000 after acquiring an additional 55,430 shares during the period. Sowell Financial Services LLC acquired a new stake in Arista Networks in the 1st quarter valued at $629,000. Finally, Legal & General Group Plc grew its stake in Arista Networks by 227.7% in the 4th quarter. Legal & General Group Plc now owns 7,814,613 shares of the technology company's stock valued at $863,749,000 after acquiring an additional 5,429,857 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ANET. Rosenblatt Securities lifted their price objective on Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wedbush began coverage on Arista Networks in a report on Wednesday, May 28th. They issued an "outperform" rating on the stock. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective on the stock. in a report on Wednesday, June 11th. JPMorgan Chase & Co. lowered their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, KGI Securities cut shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $109.33.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total transaction of $705,440.00. Following the transaction, the director directly owned 123,784 shares in the company, valued at $10,915,273.12. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the sale, the senior vice president directly owned 12,976 shares in the company, valued at $1,168,748.32. This represents a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,123,370 shares of company stock worth $113,157,408 over the last ninety days. Corporate insiders own 3.39% of the company's stock.

Arista Networks Trading Up 0.1%

NYSE ANET traded up $0.13 during trading hours on Thursday, reaching $106.41. The company had a trading volume of 9,369,978 shares, compared to its average volume of 9,139,780. The stock has a 50-day moving average of $94.70 and a 200 day moving average of $95.15. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The stock has a market capitalization of $133.64 billion, a P/E ratio of 45.04, a price-to-earnings-growth ratio of 3.10 and a beta of 1.40.

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, beating 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 company had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. Arista Networks's revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are 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.