&Partners Acquires 856 Shares of Arista Networks, Inc. (NYSE:ANET)

&Partners increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 75.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,995 shares of the technology company’s stock after buying an additional 856 shares during the period. &Partners’ holdings in Arista Networks were worth $579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Arista Networks by 2.7% during the 3rd quarter. Nordea Investment Management AB now owns 17,535 shares of the technology company’s stock valued at $3,249,000 after purchasing an additional 469 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Arista Networks in the 3rd quarter worth about $340,000. LPL Financial LLC raised its holdings in shares of Arista Networks by 23.5% during the 3rd quarter. LPL Financial LLC now owns 119,124 shares of the technology company’s stock valued at $21,910,000 after buying an additional 22,670 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in Arista Networks by 47.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 3,813 shares of the technology company’s stock worth $701,000 after purchasing an additional 1,223 shares during the period. Finally, Northern Trust Corp grew its holdings in Arista Networks by 5.0% in the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after acquiring an additional 114,978 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ANET. Evercore ISI boosted their target price on Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. UBS Group increased their price target on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Piper Sandler lifted their price objective on Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $306.78.

Insider Buying and Selling

In other Arista Networks news, Director Daniel Scheinman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $328.17, for a total value of $328,170.00. Following the completion of the transaction, the director now directly owns 37,732 shares in the company, valued at $12,382,510.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Daniel Scheinman sold 1,000 shares of the 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 completion of the sale, the director now owns 37,732 shares in the company, valued at $12,382,510.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 23,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $296.24, for a total transaction of $6,813,520.00. Following the sale, the chief executive officer now owns 1,651,800 shares in the company, valued at approximately $489,329,232. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,950 shares of company stock valued at $71,801,440. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 0.8 %

Shares of ANET stock opened at $337.36 on Monday. Arista Networks, Inc. has a 12-month low of $148.32 and a 12-month high of $345.89. The stock has a market capitalization of $105.72 billion, a P/E ratio of 46.99, a P/E/G ratio of 3.08 and a beta of 1.08. The firm’s 50 day moving average is $295.25 and its 200 day moving average is $275.67.

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

Arista Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are 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.