Impact Capital Partners LLC Has $254,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Impact Capital Partners LLC trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 17.1% during the first quarter, Holdings Channel reports. The firm owned 3,274 shares of the technology company’s stock after selling 674 shares during the quarter. Impact Capital Partners LLC’s holdings in Arista Networks were worth $254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the period. Quarry LP increased its stake in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC increased its stake in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Hemington Wealth Management increased its stake in Arista Networks by 409.7% in the fourth quarter. Hemington Wealth Management now owns 316 shares of the technology company’s stock valued at $34,000 after purchasing an additional 254 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in Arista Networks by 300.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company’s stock valued at $34,000 after purchasing an additional 234 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of NYSE ANET opened at $97.29 on Friday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock has a market capitalization of $122.19 billion, a P/E ratio of 43.82, a P/E/G ratio of 3.10 and a beta of 1.37. The company has a 50-day moving average price of $83.43 and a 200-day moving average price of $96.58.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping 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 business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has authorized a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ANET shares. Evercore ISI decreased their price target on shares of Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group decreased their price target on shares of Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays decreased their price target on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Finally, Wedbush started coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.47.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the transaction, the director now directly owns 7,480 shares in the company, valued at $512,305.20. The trade was a 16.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $88.18, for a total transaction of $705,440.00. Following the completion of the transaction, the director now owns 123,784 shares in the company, valued at approximately $10,915,273.12. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,690 shares of company stock worth $9,360,205. 3.39% of the stock is owned by insiders.

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.