U.S. Capital Wealth Advisors LLC Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

U.S. Capital Wealth Advisors LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 16.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,945 shares of the technology company's stock after purchasing an additional 2,955 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Arista Networks were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. DSG Capital Advisors LLC acquired a new stake in Arista Networks in the fourth quarter valued at $5,984,000. Ibex Wealth Advisors lifted its stake in shares of Arista Networks by 14.4% during the 1st quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company's stock worth $4,501,000 after buying an additional 7,329 shares during the last quarter. Berkshire Capital Holdings Inc. lifted its stake 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 buying an additional 55,430 shares during the last quarter. Sowell Financial Services LLC bought a new position in Arista Networks in the 1st quarter valued at about $629,000. Finally, Legal & General Group Plc increased its holdings in Arista Networks by 227.7% in the 4th quarter. Legal & General Group Plc now owns 7,814,613 shares of the technology company's stock valued at $863,749,000 after buying an additional 5,429,857 shares during the period. Institutional investors own 82.47% of the company's stock.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $88.18, for a total transaction of $705,440.00. Following the sale, the director directly owned 123,784 shares of the company's stock, valued at $10,915,273.12. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated 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 directly owned 12,976 shares in the company, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,123,370 shares of company stock valued at $113,157,408. 3.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ANET shares. Evercore ISI lifted their price target on shares of Arista Networks from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. KeyCorp initiated coverage on shares of Arista Networks in a research report on Thursday, June 26th. They issued an "overweight" rating and a $115.00 price target on the stock. Wedbush started coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Piper Sandler restated a "neutral" rating and set a $89.00 price target (up previously from $76.00) on shares of Arista Networks in a research note 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $110.07.

Arista Networks Trading Up 2.3%

Shares of NYSE:ANET traded up $2.42 during midday trading on Friday, reaching $108.71. The company had a trading volume of 12,893,331 shares, compared to its average volume of 9,154,968. The company's 50 day moving average price is $94.70 and its 200 day moving average price is $95.15. The stock has a market cap of $136.53 billion, a P/E ratio of 46.02, a P/E/G ratio of 3.10 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.

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 analysts' consensus estimates of $0.59 by $0.06. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The firm's quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has initiated a share repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is 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.