Valeo Financial Advisors LLC Has $880,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Valeo Financial Advisors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 39.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,352 shares of the technology company's stock after acquiring an additional 3,202 shares during the period. Valeo Financial Advisors LLC's holdings in Arista Networks were worth $880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Arista Networks during the 4th quarter worth about $202,000. Bank Pictet & Cie Europe AG lifted its holdings in Arista Networks by 433.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock valued at $1,200,000 after purchasing an additional 8,822 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Arista Networks by 634.3% during the 4th quarter. Proficio Capital Partners LLC now owns 4,663 shares of the technology company's stock valued at $515,000 after purchasing an additional 4,028 shares during the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in Arista Networks by 378.0% in the fourth quarter. Sage Mountain Advisors LLC now owns 4,617 shares of the technology company's stock valued at $510,000 after buying an additional 3,651 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ANET. Redburn Atlantic initiated coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price for the company. Morgan Stanley raised their price target on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Rosenblatt Securities lifted their price objective on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Evercore ISI increased their target price on Arista Networks from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Finally, BNP Paribas Exane lowered Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price for the company. in a research note on Wednesday, June 11th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.07.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 748,444 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over 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 currently owned by insiders.

Arista Networks Stock Performance

NYSE:ANET traded up $2.42 on Friday, hitting $108.71. 12,952,328 shares of the stock were exchanged, compared to its average volume of 9,160,375. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The stock has a market capitalization of $136.53 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 3.10 and a beta of 1.40. The company's 50-day moving average price is $95.05 and its 200 day moving average price is $95.11.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly 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 company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. Arista Networks's revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, equities research 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 program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in 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 generally a sign that the company's management believes its shares are undervalued.

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.