906 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Objective Capital Management LLC

Objective Capital Management LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 906 shares of the technology company’s stock, valued at approximately $263,000.

Several other institutional investors have also made changes to their positions in ANET. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks in the 1st quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Rakuten Securities Inc. acquired a new position in Arista Networks in the 4th quarter valued at approximately $35,000. Sandy Spring Bank lifted its position in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Arista Networks during the 1st quarter valued at $37,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $294.40, for a total transaction of $588,800.00. Following the completion of the sale, the director now owns 54,946 shares in the company, valued at $16,176,102.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $317.00, for a total value of $7,925,000.00. Following the transaction, the chief executive officer now directly owns 1,615,800 shares in the company, valued at $512,208,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $294.40, for a total transaction of $588,800.00. Following the sale, the director now directly owns 54,946 shares of the company’s stock, valued at approximately $16,176,102.40. The disclosure for this sale can be found here. Insiders sold a total of 205,116 shares of company stock valued at $67,657,035 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays increased their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday. Evercore ISI raised their target price on Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, KeyCorp upped their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.38.

Arista Networks Trading Down 5.7 %

ANET stock traded down $19.30 during trading on Friday, hitting $319.34. 2,699,855 shares of the stock traded hands, compared to its average volume of 2,492,396. The stock has a market cap of $100.32 billion, a price-to-earnings ratio of 44.48, a P/E/G ratio of 2.70 and a beta of 1.11. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $376.50. The company has a 50 day simple moving average of $332.16 and a 200 day simple moving average of $297.66.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. As a group, analysts predict that Arista Networks, Inc. will post 7.29 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the technology company to purchase 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 stock is 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.