Kapitalo Investimentos Ltda Trims Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Kapitalo Investimentos Ltda cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 33.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148 shares of the technology company’s stock after selling 76 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Arista Networks were worth $35,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Atticus Wealth Management LLC grew its position in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares in the last quarter. Rakuten Securities Inc. bought a new position in Arista Networks during the 4th quarter valued at $35,000. Sandy Spring Bank grew its holdings in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after acquiring an additional 39 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Arista Networks in the 4th quarter worth about $42,000. Finally, Larson Financial Group LLC raised its stake in shares of Arista Networks by 30.9% in the 4th quarter. Larson Financial Group LLC now owns 199 shares of the technology company’s stock valued at $47,000 after purchasing an additional 47 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel Scheinman sold 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $328.17, for a total value of $328,170.00. Following the sale, the director now owns 37,732 shares of the company’s stock, valued at approximately $12,382,510.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Daniel Scheinman sold 1,000 shares of Arista Networks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $328.17, for a total transaction of $328,170.00. Following the transaction, the director now directly owns 37,732 shares of the company’s stock, valued at $12,382,510.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $292.28, for a total transaction of $303,971.20. The disclosure for this sale can be found here. Insiders sold 257,950 shares of company stock worth $78,433,340 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lifted their price target on Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. UBS Group boosted their price target on Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. 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. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $306.78.

Arista Networks Stock Performance

NYSE:ANET opened at $340.27 on Friday. The stock has a market cap of $106.63 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 3.08 and a beta of 1.08. Arista Networks, Inc. has a 1 year low of $148.32 and a 1 year high of $345.89. The business has a fifty day moving average of $293.94 and a 200-day moving average of $273.98.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. On average, equities research analysts predict that Arista Networks, Inc. will post 7.05 EPS for the current year.

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

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.