O Shaughnessy Asset Management LLC Has $4.60 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

O Shaughnessy Asset Management LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 17.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,874 shares of the technology company’s stock after purchasing an additional 2,340 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Arista Networks were worth $4,603,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new stake in Arista Networks during the 1st quarter valued at $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 worth $31,000 after buying an additional 96 shares during the period. Atticus Wealth Management LLC increased its position in Arista Networks by 3,625.0% during 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 period. Rakuten Securities Inc. bought a new position in Arista Networks during the 4th quarter worth $35,000. Finally, Sandy Spring Bank increased its position in Arista Networks by 33.6% during 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 period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ANET shares. Piper Sandler raised their price target on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. 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 report on Wednesday, May 8th. JPMorgan Chase & Co. raised their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective 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, Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $330.18.

Insider Buying and Selling

In other Arista Networks news, 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 value of $265,739.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arista Networks news, 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 value of $265,739.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $370.70, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 210,076 shares of company stock valued at $68,928,479 over the last ninety days. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $4.41 during midday trading on Tuesday, reaching $346.65. The company had a trading volume of 1,218,972 shares, compared to its average volume of 2,434,552. The stock has a fifty day moving average price of $330.13 and a 200 day moving average price of $293.30. The firm has a market cap of $108.63 billion, a PE ratio of 48.00, a P/E/G ratio of 2.91 and a beta of 1.11. Arista Networks, Inc. has a fifty-two week low of $149.10 and a fifty-two week high of $376.50.

Arista Networks (NYSE:ANET) last posted 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. The company had revenue of $1.57 billion for 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%. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 7.06 EPS for the current year.

Arista Networks announced that its board has approved a stock buyback plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the technology company to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is 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.