Arista Networks, Inc. (NYSE:ANET) Shares Purchased by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 16.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,945 shares of the technology company's stock after purchasing an additional 2,955 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Arista Networks were worth $1,623,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ANET. Pacific Point Advisors LLC acquired a new position in Arista Networks during the first quarter worth $1,463,000. Financial Counselors Inc. boosted its stake in Arista Networks by 69.0% during the first quarter. Financial Counselors Inc. now owns 3,340 shares of the technology company's stock worth $259,000 after buying an additional 1,364 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Arista Networks by 7.6% during the first quarter. TD Private Client Wealth LLC now owns 19,638 shares of the technology company's stock worth $1,522,000 after buying an additional 1,392 shares during the last quarter. Capital Advisors Inc. OK boosted its stake in Arista Networks by 7.7% during the first quarter. Capital Advisors Inc. OK now owns 2,757 shares of the technology company's stock worth $214,000 after buying an additional 197 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Arista Networks by 7.0% during the first quarter. Envestnet Asset Management Inc. now owns 3,377,316 shares of the technology company's stock worth $261,674,000 after buying an additional 222,338 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president owned 12,976 shares in the company, valued at approximately $1,168,748.32. This represents a 86.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 748,444 shares of the 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 owned 30,000 shares in the company, valued at approximately $3,072,900. The trade was a 96.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,123,370 shares of company stock worth $113,157,408. 3.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ANET. Redburn Atlantic began coverage on Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price target on the stock. Wolfe Research began coverage on Arista Networks in a research note on Tuesday. They issued an "outperform" rating on the stock. BNP Paribas Exane lowered Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a research note on Wednesday, June 11th. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Finally, Wedbush began coverage on Arista Networks in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.33.

Arista Networks Stock Up 0.1%

NYSE ANET traded up $0.13 during trading hours on Thursday, hitting $106.41. 9,369,978 shares of the company were exchanged, compared to its average volume of 9,139,780. The company has a 50 day moving average of $94.33 and a two-hundred day moving average of $95.20. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The firm has a market cap of $133.64 billion, a price-to-earnings ratio of 45.04, a PEG ratio of 3.10 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. Arista Networks had a return on equity of 30.48% 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 in the prior year, the business earned $0.50 EPS. Arista Networks's revenue was up 27.6% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has approved 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

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.