LRI Investments LLC Has $594,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

LRI Investments LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 292.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,375 shares of the technology company's stock after purchasing an additional 4,007 shares during the quarter. LRI Investments LLC's holdings in Arista Networks were worth $594,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ANET. Caitlin John LLC increased its stake in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in 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 acquiring an additional 191 shares in the last quarter. New Millennium Group LLC lifted its position in shares of Arista Networks by 300.0% during the 4th 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 during the period. Quarry LP lifted its position in shares of Arista Networks by 381.5% during the 4th 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 period. Finally, Dunhill Financial LLC grew 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 purchasing an additional 212 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ANET. Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. Rosenblatt Securities increased their price target 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. Barclays lowered their price objective on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Evercore ISI reduced their target price on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley lifted their price target on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus target price of $107.14.

Arista Networks Price Performance

ANET stock traded down $2.25 during midday trading on Thursday, reaching $95.97. 8,288,607 shares of the stock were exchanged, compared to its average volume of 9,076,220. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The company has a fifty day moving average price of $79.58 and a 200 day moving average price of $97.25. The stock has a market capitalization of $120.53 billion, a PE ratio of 43.23, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data 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 return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The firm's revenue was up 27.6% compared to the same quarter last year. As a group, analysts anticipate 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 approved a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at approximately $8,697,137.08. The trade was a 59.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,355 shares of company stock worth $37,216,079 over the last ninety days. 3.39% of the stock is owned by 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.