Massmutual Trust Co. FSB ADV Grows Position in Arista Networks, Inc. (NYSE:ANET)

Massmutual Trust Co. FSB ADV grew its position in Arista Networks, Inc. (NYSE:ANET) by 24.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 654 shares of the technology company’s stock after buying an additional 130 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Arista Networks were worth $229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. GAMMA Investing LLC raised its position in Arista Networks by 39.3% during the second quarter. GAMMA Investing LLC now owns 3,264 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 921 shares during the last quarter. Capital Market Strategies LLC raised its position in shares of Arista Networks by 34.2% during the 2nd quarter. Capital Market Strategies LLC now owns 1,231 shares of the technology company’s stock worth $431,000 after purchasing an additional 314 shares during the last quarter. Old Port Advisors lifted its stake in Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after buying an additional 32 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Arista Networks by 63.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the technology company’s stock valued at $330,000 after buying an additional 443 shares during the last quarter. Finally, Hamilton Wealth LLC acquired a new position in shares of Arista Networks in the first quarter worth $263,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Down 1.3 %

ANET traded down $4.16 during trading on Monday, hitting $315.18. 2,640,656 shares of the company’s stock were exchanged, compared to its average volume of 2,500,337. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50. The stock has a 50 day moving average price of $332.16 and a 200 day moving average price of $298.32. The firm has a market cap of $99.01 billion, a P/E ratio of 42.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11.

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

Arista Networks declared that its board has approved a share repurchase program on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 14,416 shares of Arista Networks stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $326.03, for a total transaction of $4,700,048.48. Following the sale, the senior vice president now directly owns 252,382 shares in the company, valued at approximately $82,284,103.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 4,493 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $295.47, for a total transaction of $1,327,546.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 14,416 shares of Arista Networks stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $326.03, for a total value of $4,700,048.48. Following the completion of the transaction, the senior vice president now owns 252,382 shares of the company’s stock, valued at approximately $82,284,103.46. The disclosure for this sale can be found here. Insiders sold a total of 208,332 shares of company stock valued at $68,767,803 in the last ninety days. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on 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 upped their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. UBS Group lifted their target price 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. KeyCorp increased 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. Finally, Barclays lifted their price objective on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $353.38.

Arista Networks Company 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.