Vise Technologies Inc. Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Vise Technologies Inc. increased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 731.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,269 shares of the technology company's stock after buying an additional 7,275 shares during the period. Vise Technologies Inc.'s holdings in Arista Networks were worth $914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC grew its stake in shares of Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. New Millennium Group LLC grew its holdings in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Quarry LP increased its position in shares of Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after acquiring an additional 212 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 0.3%

Shares of NYSE:ANET traded up $0.30 during midday trading on Wednesday, reaching $92.79. The company's stock had a trading volume of 5,485,567 shares, compared to its average volume of 8,975,498. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The firm has a 50 day moving average of $81.73 and a 200-day moving average of $96.81. The firm has a market capitalization of $116.54 billion, a P/E ratio of 41.80, a PEG ratio of 3.10 and a beta of 1.38.

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

Arista Networks declared that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ANET shares. Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Piper Sandler restated a "neutral" rating and issued a $89.00 target price (up from $76.00) on shares of Arista Networks in a research note on Wednesday, May 7th. Barclays cut their price target on Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $107.47.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,168,748.32. This represents a 86.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the transaction, the director now directly owns 147,784 shares in the company, valued at $13,157,209.52. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,538 shares of company stock valued at $20,748,219. Company insiders own 3.54% of the company's stock.

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.