Dakota Wealth Management Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

Dakota Wealth Management raised its position in Arista Networks, Inc. (NYSE:ANET) by 53.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conning Inc. acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $243,000. Triasima Portfolio Management inc. grew its position in shares of Arista Networks by 5.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 30,780 shares of the technology company’s stock valued at $7,249,000 after purchasing an additional 1,569 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $3,580,000. WCM Investment Management LLC grew its position in shares of Arista Networks by 0.5% in the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after purchasing an additional 16,081 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $217,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Barclays lifted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Rosenblatt Securities restated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Piper Sandler boosted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, KeyCorp boosted their price target on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks Stock Performance

Arista Networks stock opened at $262.81 on Wednesday. The company’s 50 day simple moving average is $281.54 and its 200-day simple moving average is $243.95. The company has a market capitalization of $82.16 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74.

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

Insider Activity

In other news, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.41, for a total value of $48,622.26. Following the sale, the director now directly owns 2,678 shares of the company’s stock, valued at approximately $700,055.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Marc Taxay sold 11,650 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.28, for a total value of $3,335,162.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 186 shares of the stock in a transaction on 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 sale, the director now owns 2,678 shares in the company, valued at $700,055.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 361,036 shares of company stock valued at $102,813,921. Company insiders own 18.99% of the company’s stock.

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.