SBI Securities Co. Ltd. Has $2.81 Million Position in Arista Networks, Inc. (NYSE:ANET)

SBI Securities Co. Ltd. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 63.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,278 shares of the technology company's stock after acquiring an additional 14,091 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Arista Networks were worth $2,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after acquiring an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Arista Networks during the 4th quarter valued at approximately $202,000. Bank Pictet & Cie Europe AG boosted its stake in shares of Arista Networks by 433.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock valued at $1,200,000 after buying an additional 8,822 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Arista Networks by 634.3% during the 4th quarter. Proficio Capital Partners LLC now owns 4,663 shares of the technology company's stock valued at $515,000 after buying an additional 4,028 shares during the last quarter. Finally, Choate Investment Advisors boosted its stake in shares of Arista Networks by 335.4% during the 4th quarter. Choate Investment Advisors now owns 4,833 shares of the technology company's stock valued at $534,000 after buying an additional 3,723 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $0.87 during trading hours on Tuesday, hitting $107.50. The stock had a trading volume of 7,450,317 shares, compared to its average volume of 9,168,978. The firm's 50-day moving average price is $95.42 and its two-hundred day moving average price is $94.81. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company has a market capitalization of $135.01 billion, a P/E ratio of 45.50, a P/E/G ratio of 3.16 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last posted 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. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. Arista Networks's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its board has initiated a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 12,976 shares in the company, 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 can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total value of $705,440.00. Following the sale, the director owned 123,784 shares in the company, valued at $10,915,273.12. The trade was a 6.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,123,370 shares of company stock worth $113,157,408 over the last three months. 3.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. KeyCorp assumed coverage on Arista Networks in a research report on Thursday, June 26th. They set an "overweight" rating and a $115.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wedbush began coverage on Arista Networks in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Needham & Company LLC began coverage on Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating on the stock. Finally, Barclays dropped their target price on Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.07.

Arista Networks 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.