MQS Management LLC Invests $209,000 in Arista Networks, Inc. (NYSE:ANET)

MQS Management LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,694 shares of the technology company's stock, valued at approximately $209,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after acquiring an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Arista Networks in the 4th quarter valued at approximately $202,000. Bank Pictet & Cie Europe AG boosted its stake in Arista Networks by 433.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock worth $1,200,000 after buying an additional 8,822 shares in the last quarter. Proficio Capital Partners LLC raised its position in Arista Networks by 634.3% in the fourth quarter. Proficio Capital Partners LLC now owns 4,663 shares of the technology company's stock worth $515,000 after purchasing an additional 4,028 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Arista Networks by 247.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 84,285 shares of the technology company's stock worth $9,316,000 after purchasing an additional 60,004 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 in the company, valued at approximately $6,536,298.24. This represents a 10.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 26,000 shares of the firm's stock in a transaction on 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 transaction, the senior vice president directly owned 592,400 shares of the company's stock, valued at $54,637,052. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,123,370 shares of company stock valued at $113,157,408. 3.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ANET. Rosenblatt Securities raised their price target on shares of Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. The Goldman Sachs Group cut their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Evercore ISI increased their price objective on Arista Networks from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Morgan Stanley lifted their target price on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Wedbush initiated coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating for the company. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and an average price target of $110.07.

Arista Networks Trading Up 2.9%

NYSE:ANET traded up $3.16 on Thursday, hitting $111.46. The company's stock had a trading volume of 4,952,529 shares, compared to its average volume of 9,169,792. The stock has a fifty day moving average of $96.18 and a two-hundred day moving average of $94.99. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market capitalization of $139.99 billion, a P/E ratio of 47.21, a price-to-earnings-growth ratio of 3.13 and a beta of 1.40.

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

Arista Networks declared that its Board of Directors has approved a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.