Reynders McVeigh Capital Management LLC Purchases Shares of 725 Arista Networks, Inc. (NYSE:ANET)

Reynders McVeigh Capital Management LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 725 shares of the technology company’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently made changes to their positions in ANET. NBC Securities Inc. lifted its stake in Arista Networks by 21.5% in the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after acquiring an additional 38 shares during the period. Sandy Spring Bank lifted its position in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares during the period. EverSource Wealth Advisors LLC lifted its position in Arista Networks by 6.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after buying an additional 39 shares during the period. Fulton Breakefield Broenniman LLC lifted its position in Arista Networks by 1.8% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after buying an additional 40 shares during the period. Finally, West Family Investments Inc. lifted its position in Arista Networks by 3.3% during the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the 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 owns 2,976 shares in the company, valued at $941,427.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 1,500 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $258.77, for a total transaction of $388,155.00. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,575,312.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 223 shares of the 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 transaction, the director now directly owns 2,976 shares in the company, valued at approximately $941,427.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,076 shares of company stock worth $68,928,479. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ANET shares. Needham & Company LLC reissued a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a research report on Wednesday, May 8th. Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $320.00 in a research report on Friday, May 3rd. UBS Group boosted their target price on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Morgan Stanley boosted their target price on Arista Networks from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. Finally, Barclays boosted their target price on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $313.89.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $0.98 during mid-day trading on Monday, reaching $360.92. 475,487 shares of the company traded hands, compared to its average volume of 2,449,702. The company’s 50 day moving average price is $324.22 and its 200-day moving average price is $288.64. The firm has a market cap of $113.10 billion, a PE ratio of 50.40, a PEG ratio of 3.20 and a beta of 1.11. Arista Networks, Inc. has a 52 week low of $149.10 and a 52 week high of $376.50.

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

Arista Networks announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication 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.