Arista Networks, Inc. (NYSE:ANET) Shares Bought by Bokf Na

Bokf Na grew its position in Arista Networks, Inc. (NYSE:ANET) by 69.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,693 shares of the technology company’s stock after buying an additional 4,793 shares during the period. Bokf Na’s holdings in Arista Networks were worth $3,505,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in Arista Networks in the first quarter valued at about $357,000. 1832 Asset Management L.P. lifted its stake in Arista Networks by 12.6% during the 1st quarter. 1832 Asset Management L.P. now owns 12,103 shares of the technology company’s stock worth $3,510,000 after acquiring an additional 1,354 shares in the last quarter. Hhlr Advisors LTD. purchased a new stake in Arista Networks during the first quarter worth about $1,044,000. Evergreen Quality Fund GP Ltd. acquired a new stake in shares of Arista Networks during the first quarter worth about $19,023,000. Finally, Envoi LLC purchased a new position in shares of Arista Networks in the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET traded up $6.49 during trading on Monday, hitting $325.70. The stock had a trading volume of 307,543 shares, compared to its average volume of 2,434,775. The firm has a market capitalization of $102.06 billion, a P/E ratio of 44.46, a PEG ratio of 2.81 and a beta of 1.11. The company’s 50-day moving average price is $330.65 and its 200 day moving average price is $295.65. Arista Networks, Inc. has a twelve month low of $150.72 and a twelve month high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 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 firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. As a group, equities analysts expect that Arista Networks, Inc. will post 7.07 earnings per share for the current fiscal year.

Arista Networks declared 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 416 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $105,888.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $258.77, for a total transaction of $388,155.00. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,575,312.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John F. Mccool sold 416 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $105,888.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,076 shares of company stock valued at $68,928,479. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ANET shares. Evercore ISI raised their price target on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Piper Sandler lifted their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, UBS Group increased their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.12.

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.