Arista Networks, Inc. (NYSE:ANET) Shares Bought by Dorsey Wright & Associates

Dorsey Wright & Associates increased its stake in Arista Networks, Inc. (NYSE:ANET) by 292.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,804 shares of the technology company’s stock after acquiring an additional 22,946 shares during the period. Dorsey Wright & Associates’ holdings in Arista Networks were worth $3,405,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ANET. Caitlin John LLC grew its stake in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont raised its holdings in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its stake in shares of Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and raised their price objective for the company from $112.00 to $115.00 in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Trading Down 1.3 %

Shares of NYSE:ANET opened at $77.91 on Friday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm has a market cap of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The company has a fifty day simple moving average of $99.16 and a 200 day simple moving average of $101.80.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the sale, the director now directly owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock worth $49,112,111 over the last quarter. 3.54% of the stock is owned by corporate insiders.

About Arista Networks

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.