Trilogy Capital Inc. Takes Position in Arista Networks, Inc. (NYSE:ANET)

Trilogy Capital Inc. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,530 shares of the technology company’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ANET. Norges Bank bought a new position in shares of Arista Networks during the 4th quarter valued at $586,051,000. Vanguard Group Inc. grew its stake in Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the last quarter. Schroder Investment Management Group grew its stake in Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after buying an additional 1,025,815 shares during the last quarter. International Assets Investment Management LLC grew its stake in Arista Networks by 25,188.0% in the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after buying an additional 611,312 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Arista Networks by 294.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after buying an additional 556,568 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $317.00, for a total transaction of $7,925,000.00. Following the completion of the sale, the chief executive officer now owns 1,615,800 shares in the company, valued at approximately $512,208,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,950 shares of company stock valued at $64,987,920. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 0.7 %

ANET stock traded up $2.55 during trading on Friday, hitting $350.48. 2,879,761 shares of the stock traded hands, compared to its average volume of 2,332,303. Arista Networks, Inc. has a one year low of $149.10 and a one year high of $355.22. The stock has a market cap of $109.83 billion, a price-to-earnings ratio of 48.81, a P/E/G ratio of 3.09 and a beta of 1.08. The company has a 50 day simple moving average of $303.42 and a 200 day simple moving average of $279.35.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, topping 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 company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. As a group, analysts predict that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group raised 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. KeyCorp raised their target price on shares of Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Evercore ISI raised their price target on shares of Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research report on Wednesday, May 8th. Finally, Morgan Stanley raised their price target on shares of Arista Networks from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.50.

About Arista Networks

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.