Arista Networks, Inc. (NYSE:ANET) Shares Sold by WD Rutherford LLC

WD Rutherford LLC decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 11.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,022 shares of the technology company’s stock after selling 2,005 shares during the quarter. Arista Networks comprises 2.3% of WD Rutherford LLC’s holdings, making the stock its 11th biggest position. WD Rutherford LLC’s holdings in Arista Networks were worth $4,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ANET. LPL Financial LLC increased its holdings in shares of Arista Networks by 23.5% in the third quarter. LPL Financial LLC now owns 119,124 shares of the technology company’s stock valued at $21,910,000 after purchasing an additional 22,670 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Arista Networks by 70.5% in the third quarter. O Shaughnessy Asset Management LLC now owns 9,642 shares of the technology company’s stock valued at $1,773,000 after purchasing an additional 3,987 shares during the period. Mutual Advisors LLC increased its holdings in shares of Arista Networks by 103.3% in the third quarter. Mutual Advisors LLC now owns 4,611 shares of the technology company’s stock valued at $848,000 after purchasing an additional 2,343 shares during the period. Mather Group LLC. increased its holdings in shares of Arista Networks by 2.3% in the third quarter. Mather Group LLC. now owns 3,754 shares of the technology company’s stock valued at $690,000 after purchasing an additional 83 shares during the period. Finally, Trexquant Investment LP increased its holdings in shares of Arista Networks by 804.6% in the third quarter. Trexquant Investment LP now owns 35,073 shares of the technology company’s stock valued at $6,451,000 after purchasing an additional 31,196 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Morgan Stanley upped their price objective on Arista Networks from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a report on Wednesday, May 8th. Wells Fargo & Company upped their price objective on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $311.50.

Arista Networks Trading Up 0.7 %

Shares of NYSE:ANET traded up $2.55 on Friday, hitting $350.48. The company had a trading volume of 2,879,761 shares, compared to its average volume of 2,332,303. Arista Networks, Inc. has a 52-week low of $149.10 and a 52-week high of $355.22. The business has a 50 day moving average of $303.42 and a 200 day moving average of $279.00. The company has a market cap of $109.83 billion, a PE ratio of 48.81, a PEG ratio of 3.07 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.56 by $0.24. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. As a group, equities analysts predict that Arista Networks, Inc. will post 7.05 EPS for the current year.

Arista Networks announced that its Board of Directors has approved a stock buyback program on Tuesday, May 7th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Arista Networks

In related news, Director Daniel Scheinman sold 1,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $328.17, for a total value of $328,170.00. Following the completion of the transaction, the director now directly owns 37,732 shares in the company, valued at $12,382,510.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, Director Daniel Scheinman sold 1,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $328.17, for a total transaction of $328,170.00. Following the completion of the sale, the director now directly owns 37,732 shares in the company, valued at $12,382,510.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,950 shares of company stock worth $64,987,920. 3.54% of the stock is currently owned by insiders.

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.