Capital International Inc. CA Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Capital International Inc. CA boosted its position in Arista Networks, Inc. (NYSE:ANET) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,910 shares of the technology company’s stock after buying an additional 1,508 shares during the quarter. Capital International Inc. CA’s holdings in Arista Networks were worth $7,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Mutual Advisors LLC lifted its stake in Arista Networks by 20.9% in the fourth quarter. Mutual Advisors LLC now owns 5,574 shares of the technology company’s stock worth $1,313,000 after acquiring an additional 963 shares during the period. HB Wealth Management LLC lifted its stake in Arista Networks by 6.9% in the fourth quarter. HB Wealth Management LLC now owns 3,595 shares of the technology company’s stock worth $847,000 after acquiring an additional 233 shares during the period. CoreCap Advisors LLC lifted its stake in Arista Networks by 43.8% in the fourth quarter. CoreCap Advisors LLC now owns 2,521 shares of the technology company’s stock worth $594,000 after acquiring an additional 768 shares during the period. Raymond James & Associates lifted its stake in Arista Networks by 22.2% in the fourth quarter. Raymond James & Associates now owns 193,482 shares of the technology company’s stock worth $45,567,000 after acquiring an additional 35,092 shares during the period. Finally, CVA Family Office LLC purchased a new stake in Arista Networks in the fourth quarter worth $138,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 416 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $105,888.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total transaction of $511,660.00. Following the transaction, the director now directly owns 56,946 shares of the company’s stock, valued at approximately $14,568,495.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Mccool sold 416 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $105,888.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,076 shares of company stock valued at $68,928,479. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE ANET traded up $5.02 during trading hours on Friday, hitting $319.14. The company’s stock had a trading volume of 2,351,041 shares, compared to its average volume of 2,449,643. Arista Networks, Inc. has a 12 month low of $149.10 and a 12 month high of $376.50. The company’s 50 day simple moving average is $330.65 and its two-hundred day simple moving average is $294.98. The company has a market cap of $100.01 billion, a P/E ratio of 44.45, a price-to-earnings-growth ratio of 2.87 and a beta of 1.11.

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, topping the consensus estimate of $1.56 by $0.24. The business 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%. As a group, research analysts predict that Arista Networks, Inc. will post 7.06 earnings per share for the current fiscal year.

Arista Networks declared that its board has authorized a stock buyback program on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ANET. JPMorgan Chase & Co. increased their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup increased their price objective on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Evercore ISI increased their price objective on Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Bank of America increased their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Morgan Stanley increased their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $333.12.

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.