Astoria Portfolio Advisors LLC. Has $302,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Astoria Portfolio Advisors LLC. lifted its position in Arista Networks, Inc. (NYSE:ANET) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,041 shares of the technology company’s stock after buying an additional 78 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Arista Networks were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Arista Networks by 7.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock valued at $12,082,000 after buying an additional 3,763 shares in the last quarter. Lebenthal Global Advisors LLC bought a new position in Arista Networks during the fourth quarter worth $662,000. AXQ Capital LP bought a new position in Arista Networks during the third quarter worth $791,000. US Bancorp DE boosted its position in Arista Networks by 6.3% during the fourth quarter. US Bancorp DE now owns 42,809 shares of the technology company’s stock worth $10,082,000 after purchasing an additional 2,535 shares during the period. Finally, Advisor Resource Council boosted its position in Arista Networks by 507.9% during the fourth quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 5,866 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research report on Friday, April 12th. Evercore ISI boosted their target price on shares of Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. Barclays boosted their target price on shares of Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. 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 company currently has an average rating of “Moderate Buy” and an average price target of $311.50.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $350.44 on Friday. Arista Networks, Inc. has a 1 year low of $149.10 and a 1 year high of $355.22. The firm has a market cap of $109.81 billion, a PE ratio of 48.81, a P/E/G ratio of 3.07 and a beta of 1.08. The stock has a fifty day moving average price of $303.42 and a 200-day moving average price of $279.00.

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 return on equity of 31.12% and a net margin of 37.64%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 7th that allows the company to buyback $1.20 billion in 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 generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Arista Networks

In other news, Director Daniel Scheinman sold 1,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $328.17, for a total transaction of $328,170.00. Following the completion of the transaction, the director now owns 37,732 shares in the company, valued at approximately $12,382,510.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total value of $70,543.82. Following the completion of the transaction, the director now owns 2,976 shares in the company, valued at approximately $941,427.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Scheinman sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $328.17, for a total value of $328,170.00. Following the completion of the transaction, the director now owns 37,732 shares of the company’s stock, valued at approximately $12,382,510.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,950 shares of company stock worth $64,987,920. 3.54% of the stock is owned by company insiders.

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.