Arista Networks, Inc. (NYSE:ANET) Shares Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 10.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,535 shares of the technology company’s stock after buying an additional 147 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Arista Networks were worth $445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. boosted its stake in Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after purchasing an additional 38 shares during the period. Sandy Spring Bank grew its holdings in shares of Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Arista Networks by 6.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after buying an additional 39 shares during the period. Fulton Breakefield Broenniman LLC lifted its stake in Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after acquiring an additional 40 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in Arista Networks by 3.3% during the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE ANET opened at $350.48 on Monday. The stock has a 50-day simple moving average of $303.42 and a 200 day simple moving average of $279.70. Arista Networks, Inc. has a twelve month low of $149.10 and a twelve month high of $355.22. The stock has a market capitalization of $109.83 billion, a PE ratio of 48.81, a P/E/G ratio of 3.09 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. As a group, equities research analysts forecast that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 223 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total transaction of $70,543.82. Following the completion of the transaction, the director now owns 2,976 shares of the company’s stock, valued at $941,427.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jayshree Ullal sold 24,000 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $291.12, for a total value of $6,986,880.00. Following the completion of the transaction, the chief executive officer now owns 1,633,800 shares in the company, valued at approximately $475,631,856. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Yvonne Wassenaar sold 223 shares of Arista Networks stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total transaction of $70,543.82. Following the sale, the director now owns 2,976 shares in the company, valued at $941,427.84. The disclosure for this sale can be found here. Insiders have sold 185,330 shares of company stock worth $56,907,187 in the last ninety days. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of research reports. Bank of America upped their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Citigroup boosted their price target on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their price objective on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. boosted their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $311.50.

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.