1,904 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Mosaic Family Wealth Partners LLC

Mosaic Family Wealth Partners LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,904 shares of the technology company’s stock, valued at approximately $210,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after purchasing an additional 72,311,318 shares in the last quarter. FMR LLC raised its position in Arista Networks by 330.9% in the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after purchasing an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC raised its position in Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock valued at $3,016,207,000 after purchasing an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC raised its position in Arista Networks by 311.6% in the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after purchasing an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after purchasing an additional 14,454,822 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.1%

NYSE:ANET opened at $92.51 on Friday. The stock’s 50 day moving average price is $81.26 and its 200 day moving average price is $97.10. The company has a market capitalization of $116.19 billion, a PE ratio of 41.67, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has approved a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have issued reports on ANET. Barclays reduced their price target on Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their price objective on Arista Networks from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of Arista Networks in a report on Thursday, May 15th. Citigroup increased their price objective on Arista Networks from $97.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.14.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the sale, the director now directly owns 147,784 shares of the company’s stock, valued at $13,157,209.52. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the sale, the director now directly owns 7,480 shares of the company’s stock, valued at $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 410,587 shares of company stock worth $37,028,000. 3.39% of the stock is currently owned by insiders.

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.