Triglav Skladi D.O.O. Invests $2.24 Million in Arista Networks, Inc. (NYSE:ANET)

Triglav Skladi D.O.O. bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 20,300 shares of the technology company’s stock, valued at approximately $2,244,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the last quarter. New Millennium Group LLC increased its holdings 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 purchasing an additional 195 shares during the last quarter. Finally, Quarry LP increased its holdings in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the transaction, the director now directly owns 7,480 shares of the company’s stock, valued at $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,867 shares of company stock valued at $37,056,669 over the last three months. Company insiders own 3.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ANET shares. Rosenblatt Securities upped their price objective on Arista Networks from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. KGI Securities downgraded Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. Barclays dropped their price objective on Arista Networks from $126.00 to $119.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Piper Sandler reiterated a “neutral” rating and issued a $89.00 price objective (up previously from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. Finally, Citigroup upped their price objective on Arista Networks from $97.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.14.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $96.31 on Monday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The business has a 50-day moving average of $80.29 and a two-hundred day moving average of $97.20. The company has a market capitalization of $120.95 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Arista Networks’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is 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.