Arista Networks, Inc. (NYSE:ANET) Stock Holdings Reduced by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. lowered its position in Arista Networks, Inc. (NYSE:ANET) by 19.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,076 shares of the technology company’s stock after selling 252 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Arista Networks were worth $83,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP grew 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 purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC grew 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 purchasing an additional 212 shares in the last quarter. McIlrath & Eck LLC purchased a new position in Arista Networks in the fourth quarter valued at about $35,000. Aster Capital Management DIFC Ltd purchased a new position in Arista Networks in the fourth quarter valued at about $37,000. Finally, West Paces Advisors Inc. grew its stake in Arista Networks by 214.5% in the fourth quarter. West Paces Advisors Inc. now owns 368 shares of the technology company’s stock valued at $41,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $92.23, for a total value of $2,766,900.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,196,776.48. This represents a 69.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now directly owns 7,480 shares of the company’s stock, valued at approximately $512,305.20. The trade was a 16.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 161,690 shares of company stock valued at $14,525,085 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Stock Performance

NYSE ANET opened at $96.29 on Thursday. The stock has a 50-day simple moving average of $88.81 and a 200 day simple moving average of $95.73. The stock has a market capitalization of $120.93 billion, a PE ratio of 40.76, a P/E/G ratio of 2.79 and a beta of 1.37. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share buyback program 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 programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANET. Rosenblatt Securities upped their price target on Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Morgan Stanley upped their price target on Arista Networks from $73.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Needham & Company LLC began coverage on Arista Networks in a research note on Wednesday, May 28th. They set a “buy” rating for the company. BNP Paribas Exane downgraded Arista Networks from an “outperform” rating to a “neutral” rating and set a $106.00 price target for the company. in a research note on Wednesday, June 11th. Finally, Barclays decreased their price target on Arista Networks from $126.00 to $119.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.87.

About Arista Networks

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.