5T Wealth LLC Has $793,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

5T Wealth LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,231 shares of the technology company’s stock after buying an additional 763 shares during the period. 5T Wealth LLC’s holdings in Arista Networks were worth $793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Advisors Ltd. LLC lifted its position in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Quarry LP increased its stake in shares of Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 206 shares during the period. Dunhill Financial LLC increased its stake in shares of Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Tradewinds Capital Management LLC lifted its holdings 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 purchasing an additional 234 shares during the last quarter. Finally, McIlrath & Eck LLC bought a new stake in Arista Networks in the 4th quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This trade represents a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,492 shares of the business’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 sale, the director now owns 7,480 shares in the company, valued at $512,305.20. This represents a 16.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,690 shares of company stock valued at $14,525,085. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of ANET opened at $86.18 on Monday. 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 $108.23 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.53 and a beta of 1.37. The business’s fifty day moving average is $87.52 and its 200-day moving average is $95.85.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has approved a stock repurchase program on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ANET shares. Needham & Company LLC initiated coverage on Arista Networks in a report on Wednesday, May 28th. They set a “buy” rating for the company. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, The Goldman Sachs Group cut their price target on Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $108.20.

About Arista Networks

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.