Crestwood Advisors Group LLC Has $377,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Crestwood Advisors Group LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,077 shares of the technology company’s stock after buying an additional 73 shares during the period. Crestwood Advisors Group LLC’s holdings in Arista Networks were worth $377,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Benjamin Edwards Inc. purchased a new stake in shares of Arista Networks in the first quarter valued at about $26,000. Beacon Capital Management LLC raised its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Arista Networks in the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks in the second quarter valued at about $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANET. Wells Fargo & Company increased their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays increased their price target on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Bank of America increased their price target on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Evercore ISI increased their price target on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.38.

Arista Networks Stock Down 7.5 %

Shares of NYSE:ANET opened at $326.72 on Wednesday. The firm has a market capitalization of $102.38 billion, a PE ratio of 45.50, a P/E/G ratio of 2.78 and a beta of 1.11. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. The company has a 50-day moving average price of $344.37 and a two-hundred day moving average price of $310.07.

Arista Networks (NYSE:ANET) last issued its earnings results 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. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $1.41 earnings per share. Analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $325.88, for a total value of $6,517,600.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $1,057,154.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider John F. Mccool sold 2,575 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.38, for a total value of $912,528.50. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at $25,515.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,057,154.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,387 shares of company stock worth $42,196,501. 3.54% of the stock is owned by company insiders.

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.