5,951 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Marshall Financial Group LLC

Marshall Financial Group LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,951 shares of the technology company’s stock, valued at approximately $461,000.

Other large investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its position 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 buying an additional 191 shares during the last quarter. Quarry LP lifted its stake in Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 206 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Arista Networks by 409.7% in the fourth quarter. Hemington Wealth Management now owns 316 shares of the technology company’s stock worth $34,000 after acquiring an additional 254 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in shares of Arista Networks by 300.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company’s stock worth $34,000 after acquiring an additional 234 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,168,748.32. This represents a 86.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the sale, the director now directly owns 7,480 shares of the company’s stock, valued at approximately $512,305.20. This represents a 16.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 105,690 shares of company stock worth $9,360,205. Corporate insiders own 3.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ANET shares. KGI Securities lowered shares of Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. BNP Paribas cut Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. The Goldman Sachs Group reduced their price target on Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.38.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $92.28 on Friday. The firm has a fifty day moving average of $85.82 and a 200 day moving average of $96.39. The firm has a market cap of $115.89 billion, a PE ratio of 41.57, a PEG ratio of 3.10 and a beta of 1.37. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

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

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

About Arista Networks

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.