Sava Infond d.o.o. Acquires 36,870 Shares of Arista Networks, Inc. (NYSE:ANET)

Sava Infond d.o.o. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 16.5% during the first quarter, HoldingsChannel.com reports. The fund owned 260,270 shares of the technology company’s stock after buying an additional 36,870 shares during the period. Arista Networks makes up approximately 3.8% of Sava Infond d.o.o.’s holdings, making the stock its 8th largest holding. Sava Infond d.o.o.’s holdings in Arista Networks were worth $20,166,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC increased its holdings 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 acquiring an additional 191 shares during the period. Quarry LP increased its stake in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 206 shares during the period. Dunhill Financial LLC increased its stake in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock valued at $29,000 after buying an additional 212 shares during the period. McIlrath & Eck LLC acquired a new position in Arista Networks in the 4th quarter valued at $35,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Arista Networks in the 4th quarter valued at $37,000. 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 the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,168,748.32. The trade was a 86.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’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 completion of the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at $10,840,249.20. The trade was a 5.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,690 shares of company stock worth $14,525,085 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ANET shares. Morgan Stanley boosted their price objective on shares of Arista Networks from $73.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Evercore ISI boosted their price objective on shares of Arista Networks from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group dropped their price objective on shares of Arista Networks from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays dropped 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 note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.87.

Arista Networks Stock Up 6.7%

Arista Networks stock opened at $92.03 on Tuesday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The firm’s 50-day simple moving average is $87.89 and its 200 day simple moving average is $95.73. The firm has a market capitalization of $115.58 billion, a PE ratio of 38.95, a P/E/G ratio of 2.53 and a beta of 1.37.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS 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 30.48%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Arista Networks 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.