Signaturefd LLC Acquires 160 Shares of Arista Networks, Inc. (NYSE:ANET)

Signaturefd LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,815 shares of the technology company’s stock after purchasing an additional 160 shares during the period. Signaturefd LLC’s holdings in Arista Networks were worth $2,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. Capital World Investors lifted its holdings in shares of Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after acquiring an additional 55,312 shares during the period. WCM Investment Management LLC boosted its stake in shares of Arista Networks by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Arista Networks in the 1st quarter worth about $881,848,000. Finally, Norges Bank bought a new position in Arista Networks during the 4th quarter valued at about $586,051,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $353.38 on Friday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $376.50. The firm has a market capitalization of $110.74 billion, a PE ratio of 49.22, a P/E/G ratio of 2.70 and a beta of 1.11. The company has a fifty day moving average price of $343.73 and a two-hundred day moving average price of $307.90.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts forecast that Arista Networks, Inc. will post 7.29 EPS for the current year.

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

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 4,493 shares of Arista Networks stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $295.47, for a total value of $1,327,546.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $293.14, for a total value of $243,892.48. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,183,008.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marc Taxay sold 4,493 shares of Arista Networks stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $295.47, for a total transaction of $1,327,546.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,296 shares of company stock worth $44,532,174. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANET. Rosenblatt Securities boosted their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Barclays boosted their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Bank of America upped their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Jefferies Financial Group raised their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $353.38.

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.