Polianta Ltd Purchases New Position in Arista Networks, Inc. (NYSE:ANET)

Polianta Ltd acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,100 shares of the technology company's stock, valued at approximately $1,092,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Arista Networks in the 4th quarter worth approximately $202,000. Stephens Inc. AR grew its stake in Arista Networks by 318.1% in the 4th quarter. Stephens Inc. AR now owns 11,503 shares of the technology company's stock valued at $1,271,000 after buying an additional 8,752 shares in the last quarter. Focus Financial Network Inc. raised its holdings in Arista Networks by 87.7% during the 4th quarter. Focus Financial Network Inc. now owns 2,284 shares of the technology company's stock valued at $252,000 after acquiring an additional 1,067 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth $63,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ANET. Morgan Stanley boosted their price objective on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI decreased their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC assumed coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating for the company. Redburn Atlantic initiated coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective for the company. Finally, UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and increased their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Seven equities 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, the company currently has an average rating of "Moderate Buy" and an average target price of $107.38.

Arista Networks Trading Down 3.6%

Shares of ANET traded down $3.49 during midday trading on Friday, reaching $92.28. The stock had a trading volume of 6,205,708 shares, compared to its average volume of 9,041,699. The company has a market capitalization of $115.89 billion, a price-to-earnings ratio of 41.57, a price-to-earnings-growth ratio of 3.10 and a beta of 1.37. The company's 50-day moving average is $85.36 and its 200 day moving average is $96.45. 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 issued its quarterly 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. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business's quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. Research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has approved a share buyback plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company's stock, valued at approximately $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at $1,168,748.32. This represents a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,690 shares of company stock worth $9,360,205 in the last 90 days. 3.39% of the stock is owned by company insiders.

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.