Arista Networks, Inc. (NYSE:ANET) Shares Sold by Nwam LLC

Nwam LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,434 shares of the technology company's stock after selling 12,111 shares during the period. Nwam LLC's holdings in Arista Networks were worth $3,210,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ANET. Vanguard Group Inc. grew its position 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 worth $10,620,270,000 after purchasing an additional 72,311,318 shares during the last quarter. FMR LLC boosted its holdings in shares of Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares during the last quarter. Cresset Asset Management LLC boosted 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 valued at $3,016,207,000 after acquiring an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Arista Networks by 218.5% in 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 acquiring an additional 14,454,822 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $88.18, for a total transaction of $705,440.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's 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 owned 12,976 shares of the company's stock, valued at approximately $1,168,748.32. The trade was a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,123,370 shares of company stock valued at $113,157,408. Corporate insiders own 3.39% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on ANET shares. Evercore ISI upped their price objective on shares of Arista Networks from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Barclays dropped their price objective 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. The Goldman Sachs Group dropped their price objective on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report 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 on the stock. in a report on Wednesday, June 11th. Finally, KGI Securities downgraded shares of Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $111.40.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $0.03 during midday trading on Friday, hitting $112.01. The company's stock had a trading volume of 6,004,141 shares, compared to its average volume of 9,154,629. The business's 50 day simple moving average is $97.19 and its 200 day simple moving average is $95.00. The company has a market cap of $140.68 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 3.26 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.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share 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 net margin of 40.72% and a return on equity of 30.48%. The company's revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. On average, sell-side 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 initiated a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management 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.