Vivid Wealth Management LLC Takes Position in Arista Networks, Inc. (NYSE:ANET)

Vivid Wealth Management LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,711 shares of the technology company's stock, valued at approximately $1,915,000.

Other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after purchasing an additional 191 shares in the last quarter. Quarry LP raised its position in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 206 shares during the last quarter. Dunhill Financial LLC lifted its stake in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Tradewinds Capital Management LLC lifted its stake in Arista Networks by 300.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock valued at $34,000 after acquiring an additional 234 shares in the last quarter. Finally, McIlrath & Eck LLC purchased a new position in Arista Networks during the 4th quarter worth $35,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other Arista Networks news, 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 completion of the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,168,748.32. This trade represents a 86.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $88.18, for a total transaction of $705,440.00. Following the transaction, the director now owns 123,784 shares of the company's stock, valued at $10,915,273.12. This trade represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,690 shares of company stock valued at $9,360,205 over the last three months. Company insiders own 3.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ANET shares. Rosenblatt Securities raised their price target on shares of Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Redburn Atlantic began coverage on Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price on the stock. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, The Goldman Sachs Group cut their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.38.

Arista Networks Price Performance

NYSE:ANET traded up $0.44 on Wednesday, reaching $90.12. 9,161,198 shares of the company's stock were exchanged, compared to its average volume of 9,023,154. The firm has a market cap of $113.18 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 2.63 and a beta of 1.37. The stock has a fifty day simple moving average of $86.61 and a 200-day simple moving average of $96.24. 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 released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 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 30.48%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm earned $0.50 EPS. Arista Networks's revenue for the quarter was up 27.6% on a year-over-year basis. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership 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.