Arista Networks, Inc. (NYSE:ANET) Shares Sold by Disciplined Equity Management Inc.

Disciplined Equity Management Inc. lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.5% in the first quarter, Holdings Channel reports. The institutional investor owned 10,260 shares of the technology company’s stock after selling 260 shares during the quarter. Disciplined Equity Management Inc.’s holdings in Arista Networks were worth $795,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Fragasso Financial Advisors Inc raised its position in shares of Arista Networks by 4.4% during the 1st quarter. Fragasso Financial Advisors Inc now owns 4,645 shares of the technology company’s stock worth $360,000 after purchasing an additional 196 shares during the period. Quarry LP lifted its holdings in shares of Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 206 shares during the last quarter. Dunhill Financial LLC grew its stake in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after buying an additional 212 shares during the last quarter. Finally, Tradewinds Capital Management LLC grew its stake in Arista Networks by 300.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company’s stock worth $34,000 after buying an additional 234 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now directly owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,690 shares of company stock worth $9,360,205. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Stock Up 2.2%

NYSE:ANET opened at $97.29 on Friday. The business’s 50-day moving average price is $83.43 and its 200 day moving average price is $96.58. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The firm has a market cap of $122.19 billion, a P/E ratio of 43.82, a PEG ratio of 3.10 and a beta of 1.37.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share 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 company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. Sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its board has initiated a share buyback plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ANET has been the subject of several analyst reports. Redburn Atlantic assumed coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a “buy” rating and a $112.00 price target for the company. Wedbush began coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued an “outperform” rating for the company. Rosenblatt Securities boosted their price objective on Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Finally, KGI Securities lowered Arista Networks to a “neutral” rating in a research report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $107.47.

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.