Personal CFO Solutions LLC Acquires 1,272 Shares of Arista Networks, Inc. (NYSE:ANET)

Personal CFO Solutions LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 28.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,778 shares of the technology company’s stock after purchasing an additional 1,272 shares during the quarter. Personal CFO Solutions LLC’s holdings in Arista Networks were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in shares of Arista Networks by 381.5% during the 4th 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 raised its holdings in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after acquiring an additional 212 shares during the period. McIlrath & Eck LLC bought a new position in Arista Networks in the 4th quarter worth $35,000. Aster Capital Management DIFC Ltd bought a new position in shares of Arista Networks during the 4th quarter worth about $37,000. Finally, HighMark Wealth Management LLC increased its holdings in shares of Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company’s stock worth $28,000 after purchasing an additional 230 shares during the period. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANET. Redburn Atlantic began coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a “buy” rating and a $112.00 price objective on the stock. KeyCorp began coverage on shares of Arista Networks in a report on Thursday, June 26th. They set an “overweight” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Wedbush started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set an “outperform” rating on the stock. Finally, Evercore ISI lifted their target price on shares of Arista Networks from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

Arista Networks Stock Performance

NYSE ANET opened at $103.52 on Wednesday. The company has a market capitalization of $130.01 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.40. The company has a 50-day simple moving average of $93.85 and a 200 day simple moving average of $95.12. 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 data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business earned $0.50 earnings per share. Arista Networks’s revenue was up 27.6% compared to the same quarter last year. As a group, 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 plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $99.36, for a total value of $794,880.00. Following the completion of the sale, the director directly owned 65,784 shares in the company, valued at approximately $6,536,298.24. The trade was a 10.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 748,444 shares of Arista Networks stock in a transaction on Monday, June 30th. The stock was sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the completion of the transaction, the chief executive officer directly owned 30,000 shares in the company, valued at approximately $3,072,900. The trade was a 96.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,123,370 shares of company stock worth $113,157,408. 3.54% of the stock is currently owned by insiders.

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.