WD Rutherford LLC Sells 2,005 Shares of Arista Networks, Inc. (NYSE:ANET)

WD Rutherford LLC reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 11.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,022 shares of the technology company’s stock after selling 2,005 shares during the quarter. Arista Networks makes up about 2.3% of WD Rutherford LLC’s holdings, making the stock its 11th biggest holding. WD Rutherford LLC’s holdings in Arista Networks were worth $4,356,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ANET. NBC Securities Inc. increased its position in Arista Networks by 21.5% during the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock valued at $62,000 after purchasing an additional 38 shares during the period. Sandy Spring Bank increased its position in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the period. EverSource Wealth Advisors LLC increased its position in Arista Networks by 6.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares during the period. Fulton Breakefield Broenniman LLC increased its position in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after purchasing an additional 40 shares during the period. Finally, West Family Investments Inc. increased its position in Arista Networks by 3.3% during the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after purchasing an additional 40 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ANET shares. Morgan Stanley boosted their price objective on shares of Arista Networks from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research report on Friday, April 12th. Bank of America upped their target price on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Citigroup upped their target price on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $311.50.

Insider Buying and Selling at Arista Networks

In other news, Director Daniel Scheinman sold 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $328.17, for a total value of $328,170.00. Following the transaction, the director now owns 37,732 shares in the company, valued at approximately $12,382,510.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel Scheinman sold 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $328.17, for a total value of $328,170.00. Following the completion of the sale, the director now directly owns 37,732 shares of the company’s stock, valued at approximately $12,382,510.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $292.28, for a total transaction of $303,971.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,950 shares of company stock worth $64,987,920. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.7 %

ANET traded up $2.55 during midday trading on Friday, hitting $350.48. 2,879,761 shares of the company traded hands, compared to its average volume of 2,332,303. The firm has a market capitalization of $109.83 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 3.07 and a beta of 1.08. The company’s 50-day moving average is $303.42 and its 200 day moving average is $279.00. Arista Networks, Inc. has a 52 week low of $149.10 and a 52 week high of $355.22.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.24. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks announced that its board has initiated a stock buyback program on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.