Yeomans Consulting Group Inc. Takes $480,000 Position in Arista Networks, Inc. (NYSE:ANET)

Yeomans Consulting Group Inc. purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,040 shares of the technology company’s stock, valued at approximately $480,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Arista Networks by 6.1% in the third quarter. PNC Financial Services Group Inc. now owns 47,538 shares of the technology company’s stock valued at $8,744,000 after purchasing an additional 2,740 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Arista Networks by 40.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 164,206 shares of the technology company’s stock valued at $30,710,000 after acquiring an additional 47,179 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Arista Networks by 5.2% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,398 shares of the technology company’s stock worth $257,000 after acquiring an additional 69 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Arista Networks by 33.8% in the third quarter. Kestra Advisory Services LLC now owns 12,007 shares of the technology company’s stock worth $2,208,000 after acquiring an additional 3,034 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Arista Networks in the third quarter valued at about $6,656,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 3.5 %

Arista Networks stock traded up $11.58 during mid-day trading on Monday, hitting $340.08. The company’s stock had a trading volume of 3,274,870 shares, compared to its average volume of 2,504,515. Arista Networks, Inc. has a twelve month low of $148.32 and a twelve month high of $341.87. The stock’s fifty day moving average price is $290.26 and its two-hundred day moving average price is $271.32. The stock has a market capitalization of $106.57 billion, a P/E ratio of 45.75, a P/E/G ratio of 2.97 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (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 for the quarter, compared to the consensus estimate of $1.55 billion. Equities analysts expect that Arista Networks, Inc. will post 7.05 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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research note on Friday. Wells Fargo & Company lifted their price target on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group upped their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Barclays boosted their price target on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $298.17.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $292.28, for a total value of $303,971.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $292.28, for a total value of $303,971.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 14,416 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $326.03, for a total transaction of $4,700,048.48. Following the sale, the senior vice president now directly owns 252,382 shares of the company’s stock, valued at $82,284,103.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,950 shares of company stock worth $84,323,830. Insiders own 3.54% of the company’s stock.

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.