Tower Research Capital LLC TRC Acquires 25,051 Shares of Arista Networks, Inc. (NYSE:ANET)

Tower Research Capital LLC TRC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 192.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,081 shares of the technology company’s stock after acquiring an additional 25,051 shares during the period. Tower Research Capital LLC TRC’s holdings in Arista Networks were worth $8,968,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ANET. First Command Advisory Services Inc. bought a new stake in Arista Networks during the third quarter valued at $29,000. NBC Securities Inc. bought a new stake in Arista Networks during the third quarter valued at $33,000. Atticus Wealth Management LLC boosted its stake in Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after buying an additional 145 shares during the period. Rakuten Securities Inc. bought a new stake in Arista Networks during the fourth quarter valued at $35,000. Finally, Sandy Spring Bank boosted its stake in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares during the period. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. KeyCorp lifted their price target on Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Evercore ISI boosted their target price on Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday, May 20th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research note on Wednesday, May 8th. Finally, Piper Sandler boosted their target price on Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $295.22.

Arista Networks Stock Up 1.5 %

ANET stock traded up $4.38 during trading on Wednesday, reaching $297.56. The company’s stock had a trading volume of 1,594,216 shares, compared to its average volume of 2,522,550. Arista Networks, Inc. has a 1 year low of $148.32 and a 1 year high of $329.04. The company has a market capitalization of $93.24 billion, a P/E ratio of 41.47, a price-to-earnings-growth ratio of 2.68 and a beta of 1.08. The company’s fifty day moving average is $287.85 and its 200-day moving average is $266.22.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.24. The business 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%. Analysts anticipate that Arista Networks, Inc. will post 7.05 earnings per share for the current year.

Arista Networks declared that its board has initiated a stock repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in outstanding 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 often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $269.15, for a total value of $5,383,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $873,122.60. The disclosure for this sale can be found here. Insiders sold a total of 399,875 shares of company stock worth $117,511,146 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Company 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.