Moloney Securities Asset Management LLC Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Moloney Securities Asset Management LLC raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,353 shares of the technology company's stock after purchasing an additional 2,564 shares during the period. Moloney Securities Asset Management LLC's holdings in Arista Networks were worth $1,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Arista Networks by 304.2% during 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 purchasing an additional 72,311,318 shares in the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of 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 worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC lifted its position 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 acquiring an additional 18,293,874 shares in 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. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 2.3%

Shares of NYSE ANET traded up $2.42 during midday trading on Friday, hitting $108.71. The company's stock had a trading volume of 12,952,328 shares, compared to its average volume of 9,160,375. The firm has a market capitalization of $136.53 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 3.10 and a beta of 1.40. The stock has a fifty day moving average price of $95.05 and a 200 day moving average price of $95.11. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

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

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

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $99.36, for a total value of $794,880.00. Following the transaction, the director directly owned 65,784 shares in the company, valued at $6,536,298.24. This represents a 10.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 26,000 shares of the stock in a transaction on Tuesday, June 17th. The stock was 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 directly owned 592,400 shares in the company, valued at $54,637,052. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,123,370 shares of company stock valued at $113,157,408. Company insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ANET shares. BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Evercore ISI lifted their price objective on shares of Arista Networks from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Barclays dropped their price target on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted their price target on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.07.

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.