Intech Investment Management LLC Buys 16,340 Shares of Arista Networks, Inc. (NYSE:ANET)

Intech Investment Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 69.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,870 shares of the technology company’s stock after acquiring an additional 16,340 shares during the period. Intech Investment Management LLC’s holdings in Arista Networks were worth $11,562,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new stake in Arista Networks in the first quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares in the last quarter. Atticus Wealth Management LLC lifted its position in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the period. Rakuten Securities Inc. acquired a new stake in Arista Networks in the 4th quarter valued at $35,000. Finally, Sandy Spring Bank grew its position in Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ANET shares. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a research note on Wednesday, May 8th. Evercore ISI lifted their target price on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. UBS Group boosted their target price on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Finally, Bank of America raised their price target on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $330.18.

Arista Networks Stock Down 0.6 %

NYSE ANET traded down $2.07 during trading hours on Friday, hitting $330.56. The company’s stock had a trading volume of 1,354,350 shares, compared to its average volume of 1,940,961. Arista Networks, Inc. has a twelve month low of $149.10 and a twelve month high of $376.50. The firm has a market capitalization of $103.58 billion, a P/E ratio of 46.04, a PEG ratio of 2.91 and a beta of 1.11. The stock has a fifty day moving average of $329.48 and a 200 day moving average of $292.07.

Arista Networks (NYSE:ANET) last issued 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. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. On average, analysts predict that Arista Networks, Inc. will post 7.06 earnings per share for the current year.

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

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on 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 directly owns 56,946 shares of the company’s stock, valued at approximately $14,568,495.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,076 shares of company stock worth $68,928,479. 3.54% of the stock is currently owned by company 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.