Moody Lynn & Lieberson LLC Reduces Stake in Arista Networks, Inc. (NYSE:ANET)

Moody Lynn & Lieberson LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 64.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,060 shares of the technology company's stock after selling 46,856 shares during the period. Moody Lynn & Lieberson LLC's holdings in Arista Networks were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tradewinds Capital Management LLC raised its holdings in 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 buying an additional 143 shares during the period. Weaver Capital Management LLC increased its position in shares of Arista Networks by 0.8% during the first quarter. Weaver Capital Management LLC now owns 21,449 shares of the technology company's stock valued at $1,662,000 after acquiring an additional 162 shares during the last quarter. First American Bank raised its stake in shares of Arista Networks by 1.1% in the 1st quarter. First American Bank now owns 14,478 shares of the technology company's stock valued at $1,122,000 after acquiring an additional 164 shares during the period. ORG Partners LLC lifted its holdings in shares of Arista Networks by 43.8% in 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 during the last quarter. Finally, RMR Wealth Builders boosted its position 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 worth $2,374,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KGI Securities lowered Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. KeyCorp started coverage on shares of Arista Networks in a research report on Thursday, June 26th. They set an "overweight" rating and a $115.00 price target on the stock. Needham & Company LLC assumed coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating for the company. Redburn Atlantic started coverage on Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective on the stock. Finally, Barclays reduced their target price on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $109.33.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 1,793 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $101.99, for a total transaction of $182,868.07. Following the completion of the sale, the chief executive officer directly owned 38,756 shares of the company's stock, valued at $3,952,724.44. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated 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 owned 123,784 shares in the company, valued at approximately $10,915,273.12. This trade represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,488 shares of company stock worth $26,127,594 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

NYSE ANET traded up $2.16 on Wednesday, reaching $101.07. The stock had a trading volume of 8,322,942 shares, compared to its average volume of 9,092,599. The stock has a market cap of $126.94 billion, a P/E ratio of 42.78, a price-to-earnings-growth ratio of 2.98 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. The business's 50-day moving average price is $91.29 and its 200 day moving average price is $95.46.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Arista Networks's revenue for the quarter was up 27.6% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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

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.