Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 53.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,312 shares of the technology company’s stock after buying an additional 4,313 shares during the period. Dakota Wealth Management’s holdings in Arista Networks were worth $2,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Conning Inc. acquired a new position in shares of Arista Networks during the 4th quarter valued at $243,000. Triasima Portfolio Management inc. lifted its holdings in shares of Arista Networks by 5.4% during the 4th quarter. Triasima Portfolio Management inc. now owns 30,780 shares of the technology company’s stock valued at $7,249,000 after acquiring an additional 1,569 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Arista Networks during the 4th quarter valued at $3,580,000. WCM Investment Management LLC lifted its holdings in shares of Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after acquiring an additional 16,081 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new position in shares of Arista Networks during the 4th quarter valued at $217,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the sale, the director now owns 2,678 shares of the company’s stock, valued at approximately $700,055.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Arista Networks news, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the transaction, the director now owns 2,678 shares in the company, valued at approximately $700,055.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 361,036 shares of company stock valued at $102,813,921 in the last quarter. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 0.1 %

Shares of NYSE:ANET opened at $262.81 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm has a 50-day simple moving average of $281.54 and a 200 day simple moving average of $243.95. The company has a market cap of $82.16 billion, a PE ratio of 40.00, a P/E/G ratio of 2.34 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, research analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ANET. Morgan Stanley boosted their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. KeyCorp boosted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Barclays boosted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

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.