Dakota Wealth Management Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Dakota Wealth Management boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 80.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,748 shares of the technology company’s stock after acquiring 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 SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC purchased a new stake in Arista Networks during the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John F. Mccool sold 588 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $206,094.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,570 shares of company stock worth $21,474,782. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Morgan Stanley raised 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. Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Trading Up 0.4 %

NYSE:ANET opened at $395.57 on Friday. The firm has a market capitalization of $123.96 billion, a PE ratio of 55.09, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73. The firm’s fifty day simple moving average is $370.52 and its 200 day simple moving average is $333.77.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. As a group, analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal 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.