Dnca Finance Raises Stock Position in Arista Networks, Inc. $ANET

Dnca Finance grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 88.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,000 shares of the technology company’s stock after purchasing an additional 44,500 shares during the quarter. Dnca Finance’s holdings in Arista Networks were worth $9,719,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ANET. Bare Financial Services Inc boosted its position in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares during the period. REAP Financial Group LLC raised its stake in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. Solstein Capital LLC raised its stake in shares of Arista Networks by 493.8% in the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares in the last quarter. Saudi Central Bank purchased a new position in Arista Networks in the first quarter valued at $33,000. Finally, Hemington Wealth Management grew its stake in Arista Networks by 28.2% during the 2nd quarter. Hemington Wealth Management now owns 459 shares of the technology company’s stock worth $46,000 after purchasing an additional 101 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ANET shares. Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Needham & Company LLC lifted their price target on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Piper Sandler restated a “neutral” rating and issued a $145.00 price objective (up from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. Finally, Melius Research lifted their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.31.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 1,247,688 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the sale, the chief executive officer directly owned 5,383,207 shares of the company’s stock, valued at $799,567,735.71. This represents a 18.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,578,700 shares of company stock worth $231,687,618 over the last 90 days. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Trading Down 0.0%

ANET stock opened at $128.54 on Friday. The stock has a market cap of $161.87 billion, a P/E ratio of 48.87, a PEG ratio of 2.47 and a beta of 1.41. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company’s 50 day moving average is $140.51 and its two-hundred day moving average is $125.35.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.