Arista Networks, Inc. (NYSE:ANET) Stock Holdings Decreased by James J. Burns & Company LLC

James J. Burns & Company LLC reduced its position in Arista Networks, Inc. (NYSE:ANET) by 12.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,840 shares of the technology company’s stock after selling 680 shares during the quarter. James J. Burns & Company LLC’s holdings in Arista Networks were worth $375,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Caitlin John LLC lifted its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. New Millennium Group LLC lifted its stake in Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Quarry LP lifted its stake in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC lifted its stake in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 0.1%

Shares of NYSE ANET opened at $86.49 on Friday. The firm’s 50-day simple moving average is $81.89 and its 200 day simple moving average is $96.60. The company has a market cap of $108.62 billion, a price-to-earnings ratio of 38.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Arista Networks from $73.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on shares of Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. KGI Securities cut shares of Arista Networks to a “neutral” rating in a research note on Wednesday, May 7th. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Wedbush began coverage on shares of Arista Networks in a research note on Wednesday. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $107.47.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the transaction, the director now directly owns 147,784 shares in the company, valued at approximately $13,157,209.52. This represents a 5.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 237,538 shares of company stock worth $20,748,219 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

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.