Arista Networks, Inc. (NYSE:ANET) Position Raised by DSM Capital Partners LLC

DSM Capital Partners LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 259.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,188,878 shares of the technology company’s stock after buying an additional 3,746,407 shares during the period. Arista Networks makes up about 8.9% of DSM Capital Partners LLC’s holdings, making the stock its 4th largest holding. DSM Capital Partners LLC’s holdings in Arista Networks were worth $573,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks in the fourth quarter worth approximately $242,000. Silver Oak Securities Incorporated grew its stake in Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after buying an additional 14,843 shares in the last quarter. Proactive Wealth Strategies LLC increased its holdings in shares of Arista Networks by 387.6% in the 4th quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after buying an additional 4,865 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Arista Networks by 292.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 602,541 shares of the technology company’s stock worth $66,599,000 after buying an additional 449,088 shares during the last quarter. Finally, 5T Wealth LLC purchased a new stake in shares of Arista Networks during the 4th quarter valued at $1,046,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Up 3.9 %

Shares of NYSE ANET opened at $111.05 on Wednesday. The firm’s fifty day moving average is $113.95 and its 200 day moving average is $101.32. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a market cap of $139.89 billion, a price-to-earnings ratio of 53.39, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data 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 40.29% and a return on equity of 30.52%. Equities research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Activity 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 completion of the sale, the director now directly owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now directly owns 288 shares in the company, valued at $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 337,320 shares of company stock worth $37,946,706 in the last 90 days. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of several research reports. The Goldman Sachs Group upped their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday. Barclays dropped their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Finally, UBS Group increased their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.59.

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.