World Investment Advisors Has $1.07 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

World Investment Advisors grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 102.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,859 shares of the technology company's stock after purchasing an additional 7,008 shares during the period. World Investment Advisors' holdings in Arista Networks were worth $1,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. HighMark Wealth Management LLC lifted its holdings in shares of Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after acquiring an additional 230 shares during the period. Quarry LP lifted its holdings in shares of 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 acquiring an additional 206 shares during the period. Dunhill Financial LLC lifted its holdings in shares of 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 acquiring an additional 212 shares during the period. McIlrath & Eck LLC bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $35,000. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Arista Networks by 45.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds 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 Tuesday, July 1st. The shares were sold at an average price of $99.36, for a total transaction of $794,880.00. Following the completion of the sale, the director directly owned 65,784 shares in the company, valued at $6,536,298.24. This represents a 10.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 748,444 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the sale, the chief executive officer owned 30,000 shares of the company's stock, valued at approximately $3,072,900. This trade represents a 96.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,123,370 shares of company stock worth $113,157,408 over the last three months. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $101.51 on Tuesday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The firm has a 50 day moving average price of $93.40 and a two-hundred day moving average price of $95.06. The stock has a market cap of $127.49 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 2.99 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same period in the prior year, the company posted $0.50 EPS. The company's revenue was up 27.6% on a year-over-year basis. Analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ANET shares. Redburn Atlantic started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating and a $112.00 price target for the company. BNP Paribas Exane downgraded shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target for the company. in a report on Wednesday, June 11th. Barclays cut their price target on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. 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 note on Tuesday, May 13th. Finally, KGI Securities downgraded shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.33.

Arista Networks 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.

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