Human Investing LLC Has $249,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Human Investing LLC lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 7.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 711 shares of the technology company’s stock after selling 55 shares during the period. Human Investing LLC’s holdings in Arista Networks were worth $249,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GQG Partners LLC bought a new stake in shares of Arista Networks in the 1st quarter valued at about $881,848,000. Norges Bank bought a new stake in shares of Arista Networks during the 4th quarter valued at about $586,051,000. Swedbank AB bought a new stake in shares of Arista Networks during the 1st quarter valued at about $521,767,000. Vanguard Group Inc. boosted its position in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Arista Networks by 145.5% during the 4th quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after purchasing an additional 471,099 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $2.71 during trading hours on Friday, reaching $353.89. The company had a trading volume of 1,262,437 shares, compared to its average volume of 2,441,793. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $376.50. The business has a fifty day simple moving average of $338.34 and a 200 day simple moving average of $302.33. The firm has a market cap of $110.90 billion, a PE ratio of 49.66, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11.

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

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

Wall Street Analyst Weigh In

Several brokerages recently commented on ANET. Jefferies Financial Group upped their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler upped their target price on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Citigroup upped their target price on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Rosenblatt Securities increased their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Bank of America increased their price target on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.38.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the completion of the sale, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Arista Networks news, insider John F. Mccool sold 1,291 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $315.81, for a total transaction of $407,710.71. Following the sale, the insider now owns 1,291 shares in the company, valued at $407,710.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the sale, the chief executive officer now owns 1,600,800 shares in the company, valued at approximately $555,477,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,650 shares of company stock valued at $42,919,845. Company insiders own 3.54% of the company’s stock.

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.