Segall Bryant & Hamill LLC Takes $7.19 Million Position in Arista Networks, Inc. (NYSE:ANET)

Segall Bryant & Hamill LLC acquired a new position in Arista Networks, Inc. (NYSE:ANETFree Report) during the first quarter, HoldingsChannel reports. The institutional investor acquired 92,799 shares of the technology company’s stock, valued at approximately $7,190,000.

Other hedge funds also recently bought and sold shares of the company. HighMark Wealth Management LLC increased its holdings in shares of Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company’s stock valued at $28,000 after purchasing an additional 230 shares during the period. Quarry LP lifted its position 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 in the last quarter. Dunhill Financial LLC increased its stake in 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 acquiring an additional 212 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Arista Networks in the first quarter valued at $30,000. Finally, McIlrath & Eck LLC acquired a new position in Arista Networks during the 4th quarter worth $35,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ANET shares. Evercore ISI upped their price target on Arista Networks from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Rosenblatt Securities boosted their target price on Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. KGI Securities downgraded shares of Arista Networks to a “neutral” rating in a research note on Wednesday, May 7th. Morgan Stanley upped their price target on shares of Arista Networks from $73.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Redburn Atlantic started coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued a “buy” rating and a $112.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $111.40.

Check Out Our Latest Stock Report on Arista Networks

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president owned 12,976 shares of the company’s stock, valued at $1,168,748.32. This represents a 86.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $88.18, for a total value of $705,440.00. Following the completion of the sale, the director directly owned 123,784 shares in the company, valued at $10,915,273.12. This represents a 6.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,123,370 shares of company stock valued at $113,157,408. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Trading Up 3.5%

Arista Networks stock opened at $112.11 on Friday. The firm has a market capitalization of $140.80 billion, a P/E ratio of 47.45, a PEG ratio of 3.16 and a beta of 1.40. The stock has a fifty day moving average price of $96.68 and a 200 day moving average price of $94.99. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58.

Arista Networks (NYSE:ANETGet Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The business 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 quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its board has authorized a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in 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 a sign that the company’s leadership believes its stock is undervalued.

Arista Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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