753 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 753 shares of the technology company’s stock, valued at approximately $218,000.

Several other institutional investors have also modified their holdings of the stock. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks during the 1st quarter worth about $26,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the last quarter. Atticus Wealth Management LLC grew its stake in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after buying an additional 145 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Arista Networks during the 4th quarter worth approximately $35,000. Finally, Sandy Spring Bank lifted its stake in shares of Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after acquiring an additional 39 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group lifted their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Evercore ISI lifted their price target on shares of Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday, May 20th. Finally, KeyCorp increased their price objective on Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $311.50.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $255.83, for a total transaction of $511,660.00. Following the sale, the director now owns 56,946 shares of the company’s stock, valued at approximately $14,568,495.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total transaction of $511,660.00. Following the completion of the sale, the director now owns 56,946 shares of the company’s stock, valued at approximately $14,568,495.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 4,042 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $299.99, for a total value of $1,212,559.58. Following the completion of the transaction, the chief executive officer now directly owns 1,628,532 shares in the company, valued at $488,543,314.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,118 shares of company stock valued at $68,528,038. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

ANET traded up $0.72 during trading on Friday, hitting $366.14. The stock had a trading volume of 1,263,932 shares, compared to its average volume of 2,490,005. The stock has a 50 day simple moving average of $311.98 and a two-hundred day simple moving average of $282.60. Arista Networks, Inc. has a twelve month low of $149.10 and a twelve month high of $367.25. The company has a market capitalization of $114.73 billion, a PE ratio of 50.89, a PEG ratio of 3.23 and a beta of 1.11.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. On average, equities research analysts anticipate that Arista Networks, Inc. will post 7.05 EPS for the current year.

Arista Networks announced that its board has approved a stock repurchase plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are 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.