Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Kintegral Advisory LLC

Kintegral Advisory LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 54.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,303 shares of the technology company’s stock after acquiring an additional 1,169 shares during the period. Kintegral Advisory LLC’s holdings in Arista Networks were worth $1,158,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FCG Investment Co boosted its holdings in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after purchasing an additional 29 shares during the period. Old Port Advisors lifted its position in Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after purchasing an additional 33 shares during the last quarter. NBC Securities Inc. increased its position in shares of Arista Networks by 21.5% during the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after purchasing an additional 38 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Arista Networks by 6.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group boosted their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Finally, Citigroup upped their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.38.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 1,592 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the transaction, the senior vice president now owns 186,600 shares of the company’s stock, valued at approximately $65,226,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the completion of the sale, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at approximately $65,226,030. The disclosure for this sale can be found here. Insiders sold a total of 128,296 shares of company stock valued at $44,532,174 over the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Trading Down 1.3 %

NYSE:ANET opened at $341.16 on Thursday. The company has a market capitalization of $106.91 billion, a P/E ratio of 47.52, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. The firm has a 50-day moving average price of $343.60 and a two-hundred day moving average price of $307.63. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company posted $1.41 EPS. The company’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 7.29 earnings per share for the current year.

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

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.