ORG Partners LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET – Free Report) by 43.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 575 shares of the technology company’s stock after acquiring an additional 175 shares during the quarter. ORG Partners LLC’s holdings in Arista Networks were worth $45,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in ANET. RMR Wealth Builders grew its holdings in Arista Networks by 0.6% during the first quarter. RMR Wealth Builders now owns 30,642 shares of the technology company’s stock worth $2,374,000 after acquiring an additional 180 shares during the period. Capital Advisors Ltd. LLC grew its holdings 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 period. Fragasso Financial Advisors Inc grew its holdings in Arista Networks by 4.4% during the first quarter. Fragasso Financial Advisors Inc now owns 4,645 shares of the technology company’s stock worth $360,000 after acquiring an additional 196 shares during the period. Quarry LP grew 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 acquiring an additional 206 shares during the period. Finally, Beacon Capital Management LLC grew its holdings in Arista Networks by 59.8% during the first quarter. Beacon Capital Management LLC now owns 556 shares of the technology company’s stock worth $43,000 after acquiring an additional 208 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks Trading Down 4.5%
Shares of NYSE ANET opened at $86.18 on Monday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58. The firm has a market capitalization of $108.23 billion, a PE ratio of 36.48, a PEG ratio of 2.53 and a beta of 1.37. The business has a 50-day moving average price of $87.52 and a two-hundred day moving average price of $95.85.
Arista Networks announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
ANET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Citigroup increased their price target on Arista Networks from $97.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. KGI Securities lowered Arista Networks to a “neutral” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $108.20.
View Our Latest Stock Report on Arista Networks
Insider Activity
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 sale, the director now owns 7,480 shares of the company’s stock, valued at $512,305.20. The trade was a 16.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the completion of the sale, the director now directly owns 139,784 shares in the company, valued at approximately $10,840,249.20. This represents a 5.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 161,690 shares of company stock worth $14,525,085 in the last three months. 3.54% of the stock is owned by insiders.
Arista Networks Company 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.
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