Dynamic Technology Lab Private Ltd Takes Position in Arista Networks, Inc. $ANET

Dynamic Technology Lab Private Ltd acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,579 shares of the technology company’s stock, valued at approximately $668,000.

Several other large investors also recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in shares of Arista Networks by 4.0% in the third quarter. Parallel Advisors LLC now owns 62,029 shares of the technology company’s stock worth $9,038,000 after buying an additional 2,371 shares during the last quarter. Black Swift Group LLC purchased a new stake in shares of Arista Networks during the third quarter valued at $7,785,000. Ameriflex Group Inc. grew its holdings in shares of Arista Networks by 832.1% during the third quarter. Ameriflex Group Inc. now owns 3,402 shares of the technology company’s stock valued at $496,000 after buying an additional 3,037 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its position in shares of Arista Networks by 1.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 261,291 shares of the technology company’s stock valued at $38,073,000 after acquiring an additional 3,378 shares during the period. Finally, Modern Wealth Management LLC increased its position in shares of Arista Networks by 14.3% in the 3rd quarter. Modern Wealth Management LLC now owns 3,776 shares of the technology company’s stock valued at $550,000 after acquiring an additional 471 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 196,237 shares of company stock worth $25,865,760. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the subject of a number of research reports. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler reissued an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and issued a $188.00 price objective (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Arista Networks in a report on Friday, February 13th. Finally, KeyCorp reiterated an “overweight” rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

Arista Networks Stock Performance

Shares of ANET opened at $137.14 on Tuesday. The business’s 50-day moving average is $134.51 and its two-hundred day moving average is $137.26. The company has a market capitalization of $172.32 billion, a P/E ratio of 49.69, a P/E/G ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the business posted $0.66 EPS. The company’s revenue was up 28.9% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.