Wealthcare Advisory Partners LLC Purchases Shares of 5,943 Arista Networks, Inc. (NYSE:ANET)

Wealthcare Advisory Partners LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,943 shares of the technology company’s stock, valued at approximately $460,000.

A number of other large investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its stake in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Quarry LP boosted its stake in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 206 shares during the period. Dunhill Financial LLC boosted its stake in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Tradewinds Capital Management LLC raised its holdings in shares of Arista Networks by 300.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company’s stock worth $34,000 after acquiring an additional 234 shares in the last quarter. Finally, Hemington Wealth Management raised its holdings in shares of Arista Networks by 409.7% during the 4th quarter. Hemington Wealth Management now owns 316 shares of the technology company’s stock worth $34,000 after acquiring an additional 254 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 3.6%

Shares of ANET stock opened at $92.28 on Friday. The business’s 50 day moving average is $85.82 and its two-hundred day moving average is $96.39. The company has a market capitalization of $115.89 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 3.10 and a beta of 1.37. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has authorized a stock repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ANET has been the topic of several recent research reports. KGI Securities cut Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. BNP Paribas Exane cut Arista Networks from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a report on Wednesday. The Goldman Sachs Group decreased their price target on Arista Networks from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Piper Sandler restated a “neutral” rating and set a $89.00 price target (up previously from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. Finally, Barclays decreased their price target on Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.38.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,492 shares of the firm’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 transaction, the director now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,690 shares of company stock valued at $9,360,205. 3.39% of the stock is owned by insiders.

About Arista Networks

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.