Vident Advisory LLC Acquires 117,806 Shares of Arista Networks, Inc. (NYSE:ANET)

Vident Advisory LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 493.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,682 shares of the technology company's stock after acquiring an additional 117,806 shares during the period. Vident Advisory LLC's holdings in Arista Networks were worth $15,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Caitlin John LLC grew its position in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares during the last quarter. Trust Co. of Vermont grew its holdings in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares in the last quarter. New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Quarry LP increased its stake in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 206 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, May 1st. The stock was 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 represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's 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 transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,168,748.32. This 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 410,587 shares of company stock worth $37,028,000. Insiders own 3.39% of the company's stock.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $1.37 during trading hours on Friday, hitting $91.19. 7,400,926 shares of the company's stock traded hands, compared to its average volume of 10,995,682. The business has a fifty day moving average price of $81.26 and a 200-day moving average price of $97.10. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.57. The firm has a market capitalization of $114.52 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the business earned $0.50 EPS. Arista Networks's revenue was up 27.6% compared to the same quarter last year. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its board has approved a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Citigroup increased their price objective on shares of Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Barclays decreased their target price on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $130.00 price target on shares of Arista Networks in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.14.

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.