Leeward Financial Partners LLC Buys Shares of 874 Arista Networks, Inc. (NYSE:ANET)

Leeward Financial Partners LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 874 shares of the technology company’s stock, valued at approximately $253,000.

Several other institutional investors have also added to or reduced their stakes in the business. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Atticus Wealth Management LLC boosted its stake in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Arista Networks in the 4th quarter worth $35,000. Sandy Spring Bank boosted its stake 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 worth $37,000 after buying an additional 39 shares during the last quarter. Finally, Alaska Permanent Fund Corp purchased a new position in shares of Arista Networks in the 1st quarter worth $37,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jayshree Ullal sold 4,042 shares of Arista Networks stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total value of $1,212,559.58. Following the completion of the transaction, the chief executive officer now owns 1,628,532 shares in the company, valued at $488,543,314.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 4,042 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $299.99, for a total value of $1,212,559.58. Following the transaction, the chief executive officer now owns 1,628,532 shares of the company’s stock, valued at approximately $488,543,314.68. The disclosure for this sale can be found here. Insiders sold a total of 214,534 shares of company stock worth $68,653,238 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group raised their price target on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Barclays raised their target price on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. KeyCorp raised their target price on Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Citigroup raised their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company raised their target price on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $311.50.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $8.41 during trading on Wednesday, reaching $365.42. 1,209,628 shares of the stock traded hands, compared to its average volume of 2,498,926. The company has a market capitalization of $114.51 billion, a price-to-earnings ratio of 50.89, a P/E/G ratio of 3.09 and a beta of 1.11. The business has a fifty day simple moving average of $307.75 and a two-hundred day simple moving average of $281.44. Arista Networks, Inc. has a 52-week low of $149.10 and a 52-week high of $365.42.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. On average, research analysts predict that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

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

Arista Networks 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.