Arista Networks, Inc. (NYSE:ANET) Stock Holdings Trimmed by Sather Financial Group Inc

Sather Financial Group Inc cut its stake in Arista Networks, Inc. (NYSE:ANET) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 282,458 shares of the technology company’s stock after selling 5,322 shares during the period. Arista Networks makes up about 6.9% of Sather Financial Group Inc’s holdings, making the stock its 4th largest holding. Sather Financial Group Inc’s holdings in Arista Networks were worth $98,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ANET. LVZ Inc. grew its holdings in shares of Arista Networks by 53.0% in the second quarter. LVZ Inc. now owns 1,590 shares of the technology company’s stock valued at $557,000 after purchasing an additional 551 shares during the period. Catalyst Private Wealth LLC acquired a new position in Arista Networks in the 2nd quarter valued at about $216,000. &PARTNERS grew its stake in shares of Arista Networks by 102.8% in the 2nd quarter. &PARTNERS now owns 4,045 shares of the technology company’s stock valued at $1,417,000 after buying an additional 2,050 shares during the period. GYL Financial Synergies LLC increased its holdings in shares of Arista Networks by 3.0% during the 2nd quarter. GYL Financial Synergies LLC now owns 5,354 shares of the technology company’s stock worth $1,876,000 after buying an additional 155 shares during the last quarter. Finally, RMR Wealth Builders raised its position in shares of Arista Networks by 6.6% during the 2nd quarter. RMR Wealth Builders now owns 8,323 shares of the technology company’s stock valued at $2,917,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Citigroup boosted their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Jefferies Financial Group increased their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, KeyCorp upped their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $353.38.

Arista Networks Trading Up 0.8 %

NYSE:ANET traded up $2.96 during trading hours on Friday, hitting $355.13. The company’s stock had a trading volume of 964,267 shares, compared to its average volume of 2,402,217. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $376.50. The stock has a market capitalization of $111.28 billion, a P/E ratio of 49.46, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. The stock has a fifty day moving average of $343.38 and a 200-day moving average of $305.90.

Arista Networks (NYSE:ANET) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. On average, sell-side analysts forecast that Arista Networks, Inc. will post 7.29 earnings per share for the current year.

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

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 4,493 shares of Arista Networks stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $295.47, for a total value of $1,327,546.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,377 shares of company stock valued at $36,773,806. 3.54% of the stock is owned by corporate insiders.

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.