Catalytic Wealth RIA LLC Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Catalytic Wealth RIA LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 23.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,253 shares of the technology company’s stock after purchasing an additional 238 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Arista Networks were worth $363,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ANET. Benjamin Edwards Inc. acquired a new position in Arista Networks during the 1st quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. increased its position in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after purchasing an additional 145 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Arista Networks in the fourth quarter valued at about $35,000. Finally, Sandy Spring Bank increased its holdings in shares of Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John F. Mccool sold 416 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $105,888.64. The disclosure for this sale can be found here. Insiders sold a total of 210,076 shares of company stock valued at $68,928,479 over the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

Arista Networks stock traded up $11.68 during trading on Monday, reaching $342.24. 1,932,177 shares of the company were exchanged, compared to its average volume of 2,443,290. Arista Networks, Inc. has a 52-week low of $149.10 and a 52-week high of $376.50. The company has a market capitalization of $107.24 billion, a P/E ratio of 47.67, a PEG ratio of 2.91 and a beta of 1.11. The stock’s 50 day simple moving average is $329.48 and its two-hundred day simple moving average is $292.51.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. As a group, equities analysts forecast that Arista Networks, Inc. will post 7.06 earnings per share for the current year.

Arista Networks announced that its Board of Directors has authorized a share 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 purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

ANET has been the topic of a number of research reports. Barclays increased their price objective on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. UBS Group raised their target price on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” 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. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Wednesday, May 8th. Finally, Jefferies Financial Group upgraded Arista Networks from a “hold” rating to a “buy” rating and increased their price target for the stock from $240.00 to $320.00 in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.18.

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.