SageView Advisory Group LLC Takes Position in Arista Networks, Inc. (NYSE:ANET)

SageView Advisory Group LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 999 shares of the technology company’s stock, valued at approximately $235,000.

Other large investors have also modified their holdings of the company. Atticus Wealth Management LLC lifted its stake in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after purchasing an additional 145 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Arista Networks during the 4th quarter worth about $35,000. Sandy Spring Bank lifted its stake 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 acquired a new position in Arista Networks during the 4th quarter worth about $42,000. Finally, Larson Financial Group LLC lifted its stake in Arista Networks by 30.9% during the 4th quarter. Larson Financial Group LLC now owns 199 shares of the technology company’s stock worth $47,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel Scheinman sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 owns 37,732 shares in the company, valued at approximately $12,382,510.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,057,154.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Scheinman sold 1,000 shares of the stock in a transaction that occurred 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 directly owns 37,732 shares of the company’s stock, valued at $12,382,510.44. The disclosure for this sale can be found here. Insiders have sold 257,950 shares of company stock worth $78,433,340 in the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

ANET opened at $340.27 on Friday. Arista Networks, Inc. has a one year low of $148.32 and a one year high of $345.89. The company has a market cap of $106.63 billion, a P/E ratio of 47.39, a PEG ratio of 3.08 and a beta of 1.08. The business’s 50-day simple moving average is $293.94 and its 200-day simple moving average is $273.98.

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

Arista Networks announced that its board has authorized a share repurchase program on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ANET. UBS Group increased their target price on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group increased their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Rosenblatt Securities reissued a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley upped their price target on Arista Networks from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $306.78.

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.