Cottonwood Capital Advisors LLC Sells 441 Shares of Arista Networks, Inc. (NYSE:ANET)

Cottonwood Capital Advisors LLC lessened its position in shares of Arista Networks, Inc. (NYSE:ANET) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,919 shares of the technology company’s stock after selling 441 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Arista Networks were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ANET. Quarry LP boosted its holdings in 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 buying an additional 206 shares during the last quarter. Dunhill Financial LLC boosted its position 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 in the last quarter. McIlrath & Eck LLC bought a new stake in shares of Arista Networks in the 4th quarter valued at $35,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Arista Networks in the 4th quarter valued at $37,000. Finally, West Paces Advisors Inc. lifted its holdings in Arista Networks by 214.5% during the fourth quarter. West Paces Advisors Inc. now owns 368 shares of the technology company’s stock worth $41,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 161,690 shares of company stock valued at $14,525,085. Company insiders own 3.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ANET shares. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. KeyCorp upgraded shares of Arista Networks to a “strong-buy” rating in a report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Arista Networks from $130.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. BNP Paribas Exane cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a research report on Wednesday, June 11th. Finally, Redburn Atlantic began coverage on Arista Networks in a report on Wednesday, May 28th. They issued a “buy” rating and a $112.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.87.

Arista Networks Price Performance

Shares of ANET stock opened at $96.29 on Thursday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The stock has a market cap of $120.93 billion, a P/E ratio of 40.76, a P/E/G ratio of 2.79 and a beta of 1.37. The company has a fifty day moving average price of $88.81 and a two-hundred day moving average price of $95.73.

Arista Networks (NYSE:ANET) last issued its earnings results 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 return on equity of 30.48% and a net margin of 40.72%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the company posted $0.50 EPS. 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 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share buyback 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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.