Nearwater Capital Markets Ltd Buys Shares of 100,000 Arista Networks, Inc. (NYSE:ANET)

Nearwater Capital Markets Ltd purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the technology company's stock, valued at approximately $11,053,000.

Other institutional investors have also recently made changes to their positions in the company. Caitlin John LLC increased its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in 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 acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Trust Co. of Vermont increased its stake in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the last quarter. Finally, New Millennium Group LLC increased its stake in Arista Networks by 300.0% in the fourth 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 last quarter. Institutional investors own 82.47% of the company's stock.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the sale, the director now owns 139,784 shares of the company's stock, valued at $10,840,249.20. This trade represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,867 shares of company stock worth $37,056,669 over the last three months. Company insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley increased their target price on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Citigroup upped their price target on shares of Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday. 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 research report on Thursday, May 8th. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their price target for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler restated a "neutral" rating and set a $89.00 price target (up from $76.00) on shares of Arista Networks in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.14.

Arista Networks Stock Up 0.2%

Shares of Arista Networks stock traded up $0.24 during trading on Friday, reaching $96.31. 5,866,947 shares of the stock were exchanged, compared to its average volume of 9,063,159. The stock's fifty day moving average is $80.29 and its 200 day moving average is $97.21. The firm has a market cap of $120.95 billion, a price-to-earnings ratio of 43.38, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Arista Networks's revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.