Siemens Fonds Invest GmbH Sells 10,161 Shares of Arista Networks, Inc. (NYSE:ANET)

Siemens Fonds Invest GmbH lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 93.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 717 shares of the technology company's stock after selling 10,161 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Arista Networks were worth $79,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitlin John LLC grew its holdings in Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC raised 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 during the period. New Millennium Group LLC boosted its stake in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Quarry LP increased its stake in 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. Finally, Dunhill Financial LLC boosted its position in shares of Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after purchasing an additional 212 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Up 0.3%

NYSE:ANET traded up $0.32 on Wednesday, hitting $94.82. The company had a trading volume of 9,525,007 shares, compared to its average volume of 9,054,768. The firm has a 50 day moving average of $82.70 and a two-hundred day moving average of $96.54. The stock has a market capitalization of $119.09 billion, a price-to-earnings ratio of 42.71, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the business posted $0.50 EPS. Arista Networks's revenue for the quarter was up 27.6% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction 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 $10,840,249.20. This trade represents a 5.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,168,748.32. The trade was a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,690 shares of company stock worth $16,148,205 in the last quarter. 3.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANET shares. The Goldman Sachs Group dropped their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Citigroup boosted their price objective on Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Redburn Atlantic started coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price target on the stock. Evercore ISI lowered their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays cut their price objective on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.47.

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.