Arista Networks, Inc. (NYSE:ANET) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 11.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,174 shares of the technology company’s stock after selling 48,117 shares during the period. Natixis Advisors LLC’s holdings in Arista Networks were worth $128,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ANET. UniSuper Management Pty Ltd increased its holdings in Arista Networks by 20.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after purchasing an additional 6,133 shares during the period. PNC Financial Services Group Inc. increased its holdings in Arista Networks by 7.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after purchasing an additional 3,763 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Arista Networks during the 1st quarter worth about $1,405,000. M&G Plc purchased a new position in shares of Arista Networks in the 1st quarter valued at about $3,238,000. Finally, Lebenthal Global Advisors LLC purchased a new position in shares of Arista Networks in the 4th quarter valued at about $662,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ANET. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. UBS Group upped their target price on Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Bank of America upped their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Evercore ISI upped their target price on Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $353.38.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction on Monday, August 26th. The stock was sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the sale, the senior vice president now owns 186,600 shares of the company’s stock, valued at $65,226,030. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction on Monday, August 26th. The stock was sold at an average price of $349.55, for a total value of $556,483.60. Following the transaction, the senior vice president now owns 186,600 shares in the company, valued at $65,226,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $293.14, for a total value of $243,892.48. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,183,008.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,296 shares of company stock valued at $44,532,174. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 2.0 %

NYSE ANET traded up $6.79 during mid-day trading on Friday, hitting $353.38. The stock had a trading volume of 1,548,752 shares, compared to its average volume of 1,486,699. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $376.50. The company has a market cap of $111.01 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 2.78 and a beta of 1.11. The company has a 50 day simple moving average of $344.05 and a 200 day simple moving average of $308.70.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $1.41 EPS. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share buyback program on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.