Arista Networks, Inc. (NYSE:ANET) Stock Holdings Decreased by Fiera Capital Corp

Fiera Capital Corp lowered its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 7.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,212 shares of the technology company's stock after selling 2,520 shares during the period. Fiera Capital Corp's holdings in Arista Networks were worth $7,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $29,000. NBC Securities Inc. bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $33,000. Atticus Wealth Management LLC grew its position in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company's stock valued at $35,000 after buying an additional 145 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Arista Networks during the 4th quarter valued at about $35,000. Institutional investors own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares of the company's stock, valued at $4,929,639.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Yvonne Wassenaar sold 224 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares of the company's stock, valued at $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 386,018 shares of company stock valued at $112,232,499. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

ANET traded down $0.20 during trading on Friday, reaching $319.89. 1,660,708 shares of the stock traded hands, compared to its average volume of 2,541,631. Arista Networks, Inc. has a fifty-two week low of $133.42 and a fifty-two week high of $329.04. The stock's 50-day simple moving average is $284.03 and its two-hundred day simple moving average is $257.53. The stock has a market cap of $100.24 billion, a price-to-earnings ratio of 44.55, a price-to-earnings-growth ratio of 2.95 and a beta of 1.13.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The company's revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. Research analysts anticipate that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks announced that its board has authorized a share buyback program on Tuesday, May 7th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and set a $320.00 target price on shares of Arista Networks in a research note on Wednesday, May 8th. Rosenblatt Securities reissued a "sell" rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $297.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Oppenheimer reissued a "market perform" rating on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, KeyCorp boosted their target price on shares of Arista Networks from $306.00 to $349.00 and gave the company an "overweight" rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average target price of $293.00.

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.

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