Arista Networks, Inc. (NYSE:ANET) Shares Sold by Bellecapital International Ltd.

Bellecapital International Ltd. trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,765 shares of the technology company’s stock after selling 4,704 shares during the period. Arista Networks makes up approximately 3.2% of Bellecapital International Ltd.’s investment portfolio, making the stock its 10th largest holding. Bellecapital International Ltd.’s holdings in Arista Networks were worth $16,253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ANET. Brighton Jones LLC boosted its holdings in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after buying an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at $202,000. Stephens Inc. AR boosted its position in shares of Arista Networks by 318.1% in the 4th quarter. Stephens Inc. AR now owns 11,503 shares of the technology company’s stock valued at $1,271,000 after purchasing an additional 8,752 shares during the period. Sapient Capital LLC lifted its stake in Arista Networks by 300.4% during the fourth quarter. Sapient Capital LLC now owns 3,900 shares of the technology company’s stock valued at $431,000 after buying an additional 2,926 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in shares of Arista Networks by 87.7% in the fourth quarter. Focus Financial Network Inc. now owns 2,284 shares of the technology company’s stock worth $252,000 after buying an additional 1,067 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ANET shares. Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Barclays lowered their price objective on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley increased their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. KGI Securities cut shares of Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. Finally, UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $107.38.

Arista Networks Trading Up 0.6%

Shares of ANET opened at $94.25 on Thursday. The stock has a market cap of $118.38 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 3.10 and a beta of 1.37. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock’s 50-day moving average price is $84.81 and its two-hundred day moving average price is $96.48.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS 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 firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has approved a share repurchase program on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $88.18, for a total value of $705,440.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares in the company, valued at $512,305.20. The trade was a 16.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,690 shares of company stock valued at $9,360,205 in the last 90 days. 3.39% of the stock is currently 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.