Wolff Wiese Magana LLC Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Wolff Wiese Magana LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 2,333.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,186 shares of the technology company's stock after purchasing an additional 4,014 shares during the quarter. Wolff Wiese Magana LLC's holdings in Arista Networks were worth $324,000 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. Capital Advisors Ltd. LLC lifted its holdings in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the period. Quarry LP raised its position in Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares during the last quarter. Dunhill Financial LLC lifted its holdings in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the period. Tradewinds Capital Management LLC grew its position in shares of Arista Networks by 300.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock valued at $34,000 after buying an additional 234 shares during the last quarter. Finally, McIlrath & Eck LLC bought a new stake in shares of Arista Networks in the 4th quarter valued at about $35,000. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Erste Group Bank lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and raised their price target for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Citigroup increased their price objective on shares of Arista Networks from $97.00 to $112.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group dropped their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.87.

Arista Networks Stock Performance

Shares of NYSE ANET traded up $5.78 during midday trading on Monday, hitting $92.03. 16,207,050 shares of the stock traded hands, compared to its average volume of 9,040,802. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The business has a 50 day moving average price of $87.52 and a two-hundred day moving average price of $95.85. The company has a market cap of $115.58 billion, a PE ratio of 38.95, a P/E/G ratio of 2.53 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, beating analysts' consensus estimates of $0.59 by $0.06. The firm 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%. The business's revenue was up 27.6% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes 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 board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value of $620,400.00. Following the transaction, the director now owns 139,784 shares in the company, valued at $10,840,249.20. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the sale, the director now owns 7,480 shares in the company, valued at $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,690 shares of company stock worth $14,525,085. 3.54% of the stock is owned by corporate insiders.

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.