Redhawk Wealth Advisors Inc. Has $1.40 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Redhawk Wealth Advisors Inc. lowered its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,060 shares of the technology company's stock after selling 2,674 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Arista Networks were worth $1,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC lifted its position in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. Quarry LP lifted its holdings in shares of Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the period. Hemington Wealth Management grew its holdings in shares of Arista Networks by 409.7% during the fourth quarter. Hemington Wealth Management now owns 316 shares of the technology company's stock valued at $34,000 after buying an additional 254 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its position in Arista Networks by 300.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock valued at $34,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $88.18, for a total value of $705,440.00. Following the sale, the director now owns 123,784 shares of the company's stock, valued at $10,915,273.12. The trade was a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,690 shares of company stock worth $9,360,205. Company insiders own 3.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Rosenblatt Securities lifted their target price on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Needham & Company LLC began coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating for the company. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $107.38.

Arista Networks Trading Up 3.1%

ANET traded up $2.88 during midday trading on Thursday, reaching $97.09. The company's stock had a trading volume of 3,746,820 shares, compared to its average volume of 9,058,779. The company has a fifty day simple moving average of $84.81 and a 200 day simple moving average of $96.48. The stock has a market cap of $121.94 billion, a P/E ratio of 43.73, a PEG ratio of 3.10 and a beta of 1.37. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Arista Networks's revenue was up 27.6% compared to the same quarter last year. Sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is 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.