Nvwm LLC Sells 464 Shares of Arista Networks, Inc. (NYSE:ANET)

Nvwm LLC trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,248 shares of the technology company’s stock after selling 464 shares during the period. Arista Networks accounts for about 1.0% of Nvwm LLC’s portfolio, making the stock its 26th biggest holding. Nvwm LLC’s holdings in Arista Networks were worth $3,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. boosted its holdings in shares of Arista Networks by 21.5% during the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after acquiring an additional 38 shares during the period. Sandy Spring Bank boosted its stake in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Arista Networks by 6.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after buying an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its position in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after buying an additional 40 shares during the period. Finally, West Family Investments Inc. lifted its holdings in shares of Arista Networks by 3.3% during the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after buying an additional 40 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, insider John F. Mccool sold 416 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $105,888.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marc Taxay sold 1,044 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $265,739.76. The disclosure for this sale can be found here. Insiders sold a total of 210,076 shares of company stock worth $68,928,479 in the last three months. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ANET shares. 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. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research report on Wednesday, May 8th. Wells Fargo & Company increased their price target on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Citigroup lifted their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Evercore ISI increased their target price on Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $311.50.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $2.31 on Friday, hitting $361.90. 1,251,903 shares of the company’s stock traded hands, compared to its average volume of 2,048,179. The company has a market capitalization of $113.40 billion, a price-to-earnings ratio of 50.40, a price-to-earnings-growth ratio of 3.18 and a beta of 1.11. The company has a fifty day moving average of $324.22 and a two-hundred day moving average of $287.93. Arista Networks, Inc. has a one year low of $149.10 and a one year high of $376.50.

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

Arista Networks declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign 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.