HBK Sorce Advisory LLC Has $1.02 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

HBK Sorce Advisory LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 24.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,504 shares of the technology company’s stock after acquiring an additional 690 shares during the period. HBK Sorce Advisory LLC’s holdings in Arista Networks were worth $1,016,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ANET. Diversified Trust Co grew its holdings in shares of Arista Networks by 38.6% in the 4th quarter. Diversified Trust Co now owns 2,765 shares of the technology company’s stock valued at $651,000 after buying an additional 770 shares during the period. Nordea Investment Management AB grew its holdings in shares of Arista Networks by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 20,221 shares of the technology company’s stock valued at $4,779,000 after buying an additional 2,686 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Arista Networks by 19.6% in the 4th quarter. Raymond James Trust N.A. now owns 2,463 shares of the technology company’s stock valued at $580,000 after buying an additional 403 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Arista Networks in the 4th quarter valued at $32,606,000. Finally, Bremer Bank National Association grew its holdings in shares of Arista Networks by 3.7% in the 4th quarter. Bremer Bank National Association now owns 29,268 shares of the technology company’s stock valued at $6,893,000 after buying an additional 1,050 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ANET. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Evercore ISI boosted their price objective on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective 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. KeyCorp boosted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America boosted their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.50.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 416 shares of the company’s stock in a transaction that occurred on 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 is accessible through the SEC website. In other news, Director Yvonne Wassenaar sold 223 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total transaction of $70,543.82. Following the completion of the sale, the director now owns 2,976 shares of the company’s stock, valued at approximately $941,427.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 416 shares of the stock in a transaction that occurred 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. Insiders have sold a total of 210,076 shares of company stock worth $68,928,479 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.6 %

Shares of Arista Networks stock traded down $2.07 during trading on Friday, hitting $330.56. 1,346,113 shares of the stock were exchanged, compared to its average volume of 2,446,116. The stock has a market capitalization of $103.58 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 2.97 and a beta of 1.11. The company has a fifty day moving average price of $329.15 and a 200-day moving average price of $290.99. Arista Networks, Inc. has a 1-year low of $149.10 and a 1-year high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. Equities research analysts forecast that Arista Networks, Inc. will post 7.06 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the technology company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are 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.