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

Dorsey Wright & Associates boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 292.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

Other large investors also recently modified their holdings of the company. Varenne Capital Partners increased its holdings in Arista Networks by 42.7% in the fourth quarter. Varenne Capital Partners now owns 130,695 shares of the technology company’s stock valued at $14,446,000 after buying an additional 39,094 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Arista Networks by 2,734.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,415,621 shares of the technology company’s stock valued at $598,589,000 after acquiring an additional 5,224,540 shares during the last quarter. L & S Advisors Inc raised its position in shares of Arista Networks by 259.8% during the 4th quarter. L & S Advisors Inc now owns 22,053 shares of the technology company’s stock worth $2,438,000 after acquiring an additional 15,924 shares in the last quarter. MV Capital Management Inc. lifted its stake in Arista Networks by 300.0% during the fourth quarter. MV Capital Management Inc. now owns 1,396 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,047 shares during the last quarter. Finally, BlueChip Wealth Advisors LLC boosted its holdings in Arista Networks by 93.3% in the fourth quarter. BlueChip Wealth Advisors LLC now owns 2,292 shares of the technology company’s stock valued at $253,000 after purchasing an additional 1,106 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Arista Networks Stock Performance

Shares of ANET stock opened at $77.91 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The stock has a market cap of $98.25 billion, a PE ratio of 35.09, a P/E/G ratio of 3.10 and a beta of 1.08. The stock has a fifty day moving average price of $99.16 and a 200 day moving average price of $101.80.

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

Arista Networks Company 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.