Financial Counselors Inc. Purchases New Holdings in Arista Networks, Inc. (NYSE:ANET)

Financial Counselors Inc. acquired a new position in Arista Networks, Inc. (NYSE:ANETFree Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 740 shares of the technology company’s stock, valued at approximately $215,000.

Other large investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in Arista Networks in the 1st quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Alaska Permanent Fund Corp purchased a new stake in Arista Networks during the 1st quarter worth about $37,000. Riverview Trust Co bought a new position in Arista Networks in the 1st quarter worth about $40,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Arista Networks during the 1st quarter worth approximately $42,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. UBS Group lifted their target price on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Evercore ISI increased their target price on Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Wednesday, May 8th. Finally, Barclays boosted their price objective on shares of Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.50.

Read Our Latest Stock Analysis on ANET

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 223 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total transaction of $70,543.82. Following the completion of the transaction, the director now directly owns 2,976 shares in the company, valued at approximately $941,427.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total value of $70,543.82. Following the sale, the director now directly owns 2,976 shares in the company, valued at $941,427.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Mccool sold 416 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $105,888.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,076 shares of company stock worth $61,514,479. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 1.4 %

Shares of ANET opened at $365.74 on Wednesday. Arista Networks, Inc. has a 52 week low of $149.10 and a 52 week high of $376.50. The stock’s 50-day moving average price is $318.34 and its 200-day moving average price is $286.02. The company has a market capitalization of $114.61 billion, a price-to-earnings ratio of 50.94, a PEG ratio of 3.28 and a beta of 1.11.

Arista Networks (NYSE:ANETGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate 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. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks declared that its board has initiated a share buyback 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 reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Arista Networks 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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