Arista Networks, Inc. (NYSE:ANET) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its stake in Arista Networks, Inc. (NYSE:ANET) by 213.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,227 shares of the technology company’s stock after acquiring an additional 241,901 shares during the period. DekaBank Deutsche Girozentrale owned 0.11% of Arista Networks worth $101,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks during the first quarter worth approximately $26,000. Financial Synergies Wealth Advisors Inc. raised its holdings in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Rakuten Securities Inc. bought a new stake in Arista Networks during the fourth quarter worth approximately $35,000. Sandy Spring Bank raised its holdings in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares in the last quarter. Finally, Alaska Permanent Fund Corp bought a new stake in Arista Networks during the first quarter worth approximately $37,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelly Bodnar Battles sold 356 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $274.91, for a total transaction of $97,867.96. Following the sale, the director now directly owns 2,570 shares in the company, valued at $706,518.70. The disclosure for this sale can be found here. Insiders sold 205,116 shares of company stock valued at $67,657,035 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a report on Wednesday. UBS Group upped their price target on Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Barclays upped their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Jefferies Financial Group upped their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.38.

Arista Networks Stock Performance

Shares of ANET traded down $19.30 during trading hours on Friday, reaching $319.34. 2,699,855 shares of the company traded hands, compared to its average volume of 2,492,396. The stock’s fifty day moving average is $332.16 and its 200 day moving average is $297.66. The stock has a market cap of $100.32 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 7.29 EPS for the current year.

Arista Networks declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.