Retireful LLC Sells 4,842 Shares of Arista Networks, Inc. (NYSE:ANET)

Retireful LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 31.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,642 shares of the technology company's stock after selling 4,842 shares during the quarter. Retireful LLC's holdings in Arista Networks were worth $829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ANET. Caitlin John LLC increased its holdings in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings 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 worth $27,000 after purchasing an additional 191 shares in the last quarter. Quarry LP boosted its holdings in shares of Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC boosted its holdings in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares during the period. Finally, Tradewinds Capital Management LLC lifted its holdings in Arista Networks by 300.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock worth $34,000 after buying an additional 234 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company's stock, valued at approximately $10,840,249.20. This trade represents a 5.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 105,690 shares of company stock valued at $9,360,205 over the last 90 days. Company insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

ANET has been the subject of a number of recent research reports. Needham & Company LLC initiated coverage on Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating for the company. Barclays decreased their price target on Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Evercore ISI decreased their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Piper Sandler restated a "neutral" rating and issued a $89.00 price target (up previously from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price target on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.47.

Arista Networks Stock Up 0.2%

NYSE:ANET traded up $0.17 during mid-day trading on Thursday, hitting $95.11. 7,929,264 shares of the company traded hands, compared to its average volume of 9,058,943. The stock's fifty day moving average price is $82.70 and its 200-day moving average price is $96.54. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market cap of $119.45 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

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

Arista Networks declared that its Board of Directors has approved a share repurchase 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 shares through open market purchases. Shares buyback plans are typically an indication 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.