TFR Capital LLC. Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

TFR Capital LLC. purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,220 shares of the technology company's stock, valued at approximately $1,572,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. bought a new stake in shares of Arista Networks in the 4th quarter valued at approximately $242,000. GHE LLC boosted its holdings in Arista Networks by 319.0% in the fourth 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 increased its stake in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company's stock valued at $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Unified Investment Management acquired a new stake in shares of Arista Networks during the fourth quarter worth $630,000. Finally, Berkshire Capital Holdings Inc. lifted its position in shares of Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company's stock worth $8,505,000 after buying an additional 55,430 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,101,013.60. The trade was a 86.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $88.58, for a total transaction of $708,640.00. Following the transaction, the director now owns 131,784 shares of the company's stock, valued at approximately $11,673,426.72. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,538 shares of company stock valued at $20,748,219. Corporate insiders own 3.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Redburn Atlantic started coverage on Arista Networks in a research report on Wednesday. They set a "buy" rating and a $112.00 price target on the stock. Morgan Stanley raised their price target on Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating on shares of Arista Networks in a research note on Monday, March 3rd. Finally, KGI Securities cut Arista Networks to a "neutral" rating in a research note 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. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $107.47.

Arista Networks Stock Performance

Shares of ANET stock traded up $0.12 during midday trading on Friday, reaching $86.49. 16,490,789 shares of the company were exchanged, compared to its average volume of 9,039,247. The company's 50 day moving average price is $81.90 and its two-hundred day moving average price is $96.69. The company has a market cap of $108.62 billion, a P/E ratio of 38.96, a PEG ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 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 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm's quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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

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.