Sivia Capital Partners LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Sivia Capital Partners LLC grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 156.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,227 shares of the technology company's stock after buying an additional 4,408 shares during the period. Sivia Capital Partners LLC's holdings in Arista Networks were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. DSG Capital Advisors LLC purchased a new position in shares of Arista Networks during the 4th quarter worth approximately $5,984,000. GHE LLC boosted its position in shares of Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company's stock worth $3,136,000 after purchasing an additional 21,597 shares during the period. Colonial River Investments LLC boosted its position in shares of Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock worth $1,077,000 after purchasing an additional 7,466 shares during the period. Unified Investment Management purchased a new position in shares of Arista Networks during the 4th quarter worth approximately $630,000. Finally, Berkshire Capital Holdings Inc. boosted its position in shares of Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after purchasing an additional 55,430 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity

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

Arista Networks Trading Up 2.2%

Shares of ANET opened at $97.29 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm's fifty day simple moving average is $83.43 and its 200-day simple moving average is $96.58. The firm has a market capitalization of $122.19 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 3.10 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating 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 period last year, the business earned $0.50 EPS. The company's revenue was up 27.6% on a year-over-year basis. On average, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in 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. Morgan Stanley increased their price objective on shares of Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Needham & Company LLC started coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group decreased their price target on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Arista Networks presently 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.

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