5,943 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,943 shares of the technology company's stock, valued at approximately $460,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its holdings 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 valued at $27,000 after purchasing an additional 191 shares in the last quarter. Quarry LP boosted its holdings in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares in the last quarter. 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 valued at $29,000 after purchasing an additional 212 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in Arista Networks by 300.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock worth $34,000 after acquiring an additional 234 shares during the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of Arista Networks by 409.7% in the fourth quarter. Hemington Wealth Management now owns 316 shares of the technology company's stock valued at $34,000 after purchasing an additional 254 shares during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Trading Up 2.4%

Shares of Arista Networks stock traded up $2.26 during trading hours on Monday, reaching $94.61. 4,017,371 shares of the company's stock were exchanged, compared to its average volume of 10,773,411. The company has a 50 day moving average of $85.82 and a two-hundred day moving average of $96.33. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.57. The stock has a market cap of $118.82 billion, a P/E ratio of 42.62, a P/E/G ratio of 3.10 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $0.50 earnings per share. The business's revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has authorized a stock 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,492 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares in the company, valued at approximately $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at approximately $10,840,249.20. This represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,690 shares of company stock worth $9,360,205 over the last three months. Corporate insiders own 3.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ANET shares. Rosenblatt Securities increased their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Piper Sandler reissued a "neutral" rating and set a $89.00 price target (up previously from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. KGI Securities downgraded shares of Arista Networks to a "neutral" rating in a research report 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 report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $107.38.

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.