Pathstone Holdings LLC Acquires 75,459 Shares of Arista Networks, Inc. (NYSE:ANET)

Pathstone Holdings LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 293.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,156 shares of the technology company’s stock after buying an additional 75,459 shares during the period. Pathstone Holdings LLC’s holdings in Arista Networks were worth $11,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. Caitlin John LLC grew its position in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,168,748.32. The trade was a 86.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.14, for a total value of $1,623,709.62. Following the transaction, the insider now owns 17,433 shares of the company’s stock, valued at $1,623,709.62. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 410,867 shares of company stock worth $37,056,669. Insiders own 3.39% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $95.97 on Friday. The stock’s fifty day moving average price is $79.95 and its two-hundred day moving average price is $97.24. The company has a market cap of $120.53 billion, a PE ratio of 43.23, a P/E/G ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays decreased their target price on Arista Networks from $126.00 to $119.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group reduced their price target on Arista Networks from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, Evercore ISI reduced their price target on Arista Networks from $130.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $107.14.

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.