4,035 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Doliver Advisors LP

Doliver Advisors LP purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 1st quarter, Holdings Channel.com reports. The firm purchased 4,035 shares of the technology company’s stock, valued at approximately $313,000.

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

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares of the company’s stock, valued at $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 51,848 shares of Arista Networks stock in a transaction on Monday, March 3rd. The stock was 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 sold 237,538 shares of company stock valued at $20,748,219 over the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $86.49 on Friday. The company has a fifty day moving average price of $81.89 and a 200-day moving average price of $96.60. The company has a market capitalization of $108.62 billion, a P/E ratio of 38.96, a PEG 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, beating the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has authorized a stock 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 typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. KGI Securities lowered shares of Arista Networks to a “neutral” rating in a research report on Wednesday, May 7th. Rosenblatt Securities raised their target price on shares of Arista Networks from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Citigroup raised their target price on shares of Arista Networks from $97.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Redburn Atlantic assumed coverage on shares of Arista Networks in a research report on Wednesday. They issued a “buy” rating and a $112.00 target price on the stock. Finally, Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $107.47.

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.