Arista Networks, Inc. (NYSE:ANET) Stock Holdings Lessened by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its stake in Arista Networks, Inc. (NYSE:ANET) by 2.7% during the first quarter, HoldingsChannel.com reports. The fund owned 1,891 shares of the technology company’s stock after selling 52 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Arista Networks were worth $548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. raised its holdings in Arista Networks by 21.5% during the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after buying an additional 38 shares during the period. Sandy Spring Bank lifted its position in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Arista Networks by 6.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock worth $163,000 after purchasing an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its stake in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after purchasing an additional 40 shares during the period. Finally, West Family Investments Inc. lifted its holdings in shares of Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after purchasing an additional 40 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ANET shares. Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Wednesday, May 8th. Wells Fargo & Company increased their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Citigroup upped their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. UBS Group lifted their target price on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $333.12.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $1.92 during midday trading on Tuesday, hitting $318.63. The company had a trading volume of 717,476 shares, compared to its average volume of 2,439,723. The stock has a market cap of $99.85 billion, a PE ratio of 45.13, a P/E/G ratio of 2.81 and a beta of 1.11. Arista Networks, Inc. has a 1-year low of $150.72 and a 1-year high of $376.50. The business’s 50 day simple moving average is $330.67 and its two-hundred day simple moving average is $296.14.

Arista Networks (NYSE:ANET) last announced its quarterly 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. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. On average, sell-side analysts expect that Arista Networks, Inc. will post 7.07 EPS for the current fiscal year.

Arista Networks declared that its board 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 repurchase 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 Buying and Selling

In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the business’s 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 owns 2,976 shares of the company’s stock, valued at $941,427.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 223 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were 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 directly owns 2,976 shares of the company’s stock, valued at $941,427.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,202,550.80. The disclosure for this sale can be found here. Insiders have sold a total of 210,076 shares of company stock worth $68,928,479 in the last three months. 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.