Dakota Wealth Management Has $8.35 Million Position in Arista Networks, Inc. (NYSE:ANET)

Dakota Wealth Management raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 80.7% in the third quarter, HoldingsChannel.com reports. The firm owned 21,748 shares of the technology company’s stock after purchasing an additional 9,715 shares during the quarter. Dakota Wealth Management’s holdings in Arista Networks were worth $8,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in ANET. Sunbelt Securities Inc. increased its position in Arista Networks by 352.3% in the 1st quarter. Sunbelt Securities Inc. now owns 294 shares of the technology company’s stock valued at $85,000 after acquiring an additional 229 shares during the period. Brookstone Capital Management lifted its holdings in shares of Arista Networks by 44.7% in the 1st quarter. Brookstone Capital Management now owns 11,742 shares of the technology company’s stock worth $3,405,000 after purchasing an additional 3,626 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Arista Networks by 10.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,535 shares of the technology company’s stock valued at $445,000 after buying an additional 147 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Arista Networks by 143.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,947 shares of the technology company’s stock valued at $12,164,000 after purchasing an additional 24,744 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new stake in Arista Networks during the first quarter worth $3,915,000. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at approximately $17,437,796.88. This trade represents a 0.00 % 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, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,570 shares of company stock worth $21,474,782 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler lifted their price target on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Barclays increased their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Citigroup lifted their target price on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Stock Up 0.4 %

Shares of ANET opened at $395.57 on Friday. The business has a fifty day moving average of $370.52 and a 200 day moving average of $333.77. The company has a market cap of $123.96 billion, a PE ratio of 55.09, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $422.73.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $1.41 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

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.