Lbp Am Sa Has $823,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Lbp Am Sa decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 71.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,838 shares of the technology company’s stock after selling 7,129 shares during the period. Lbp Am Sa’s holdings in Arista Networks were worth $823,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. NBC Securities Inc. grew its holdings in Arista Networks by 21.5% during the first 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 last quarter. Sandy Spring Bank boosted its holdings in Arista Networks by 33.6% in 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 grew its position in Arista Networks by 6.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock worth $163,000 after purchasing an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in shares of Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after purchasing an additional 40 shares during the period. Finally, West Family Investments Inc. lifted its stake in shares of Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after buying an additional 40 shares during the period. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Wells Fargo & Company upped their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $345.82.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 356 shares of Arista Networks stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $274.91, for a total value of $97,867.96. Following the completion of the transaction, the director now owns 2,570 shares in the company, valued at approximately $706,518.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,116 shares of company stock valued at $67,657,035. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

NYSE ANET traded down $22.29 on Friday, reaching $316.35. The company had a trading volume of 1,590,239 shares, compared to its average volume of 2,491,896. The company’s fifty day moving average is $331.91 and its 200-day moving average is $297.20. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50. The firm has a market capitalization of $99.13 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 3.05 and a beta of 1.11.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 31.81% and a net margin of 39.01%. Arista Networks’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 earnings per share. On average, research analysts forecast that Arista Networks, Inc. will post 7.08 earnings per share for the current year.

Arista Networks announced that its board has authorized a stock buyback plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.