U.S. Capital Wealth Advisors LLC Has $1.62 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

U.S. Capital Wealth Advisors LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,945 shares of the technology company's stock after buying an additional 2,955 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Arista Networks were worth $1,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. HighMark Wealth Management LLC grew its position in shares of Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after purchasing an additional 230 shares during the last quarter. Quarry LP grew its position in shares of 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 during the last quarter. Dunhill Financial LLC grew its position in shares of Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Arista Networks in the first quarter valued at approximately $30,000. Finally, McIlrath & Eck LLC acquired a new position in shares of Arista Networks in the fourth quarter valued at approximately $35,000. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ANET shares. JPMorgan Chase & Co. reduced 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. KGI Securities downgraded Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Erste Group Bank downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. KeyCorp started 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. Finally, Piper Sandler reissued a "neutral" rating and set a $89.00 price target (up previously from $76.00) on shares of Arista Networks in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $109.33.

Arista Networks Price Performance

ANET stock traded up $2.88 during midday trading on Wednesday, reaching $106.27. 14,501,483 shares of the stock were exchanged, compared to its average volume of 9,134,515. The stock has a market capitalization of $133.47 billion, a PE ratio of 44.98, a P/E/G ratio of 2.96 and a beta of 1.40. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company has a fifty day moving average price of $93.85 and a 200 day moving average price of $95.12.

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 the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The business's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $88.18, for a total transaction of $705,440.00. Following the transaction, the director directly owned 123,784 shares of the company's stock, valued at approximately $10,915,273.12. The trade was a 6.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 748,444 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $102.43, for a total value of $76,663,118.92. Following the completion of the transaction, the chief executive officer directly owned 30,000 shares in the company, valued at $3,072,900. This represents a 96.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,123,370 shares of company stock valued at $113,157,408. 3.39% of the stock is currently owned by company insiders.

Arista Networks Company 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.