Arista Networks, Inc. (NYSE:ANET) is DSM Capital Partners LLC’s 7th Largest Position

DSM Capital Partners LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,576,499 shares of the technology company’s stock after acquiring an additional 73,399 shares during the quarter. Arista Networks comprises about 5.7% of DSM Capital Partners LLC’s holdings, making the stock its 7th largest position. DSM Capital Partners LLC’s holdings in Arista Networks were worth $371,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Rakuten Securities Inc. acquired a new position in Arista Networks in the fourth quarter valued at $35,000. Atticus Wealth Management LLC lifted its stake in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after purchasing an additional 145 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth about $28,000. Sandy Spring Bank increased its position in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new position in Arista Networks in the third quarter valued at approximately $29,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ANET. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research report on Wednesday, May 8th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. KeyCorp boosted their price objective on Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $295.22.

Arista Networks Price Performance

ANET traded up $5.13 during trading on Friday, hitting $306.55. The company had a trading volume of 2,136,456 shares, compared to its average volume of 2,843,981. Arista Networks, Inc. has a 1-year low of $148.32 and a 1-year high of $329.04. The company has a market cap of $96.06 billion, a PE ratio of 42.69, a P/E/G ratio of 2.77 and a beta of 1.13. The business has a 50-day moving average of $287.34 and a 200-day moving average of $261.43.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. Research analysts forecast that Arista Networks, Inc. will post 7.05 earnings per share for the current year.

Arista Networks declared that its board has initiated a share buyback plan on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Arista Networks

In related news, Director Yvonne Wassenaar sold 223 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total transaction of $70,543.82. Following the sale, the director now directly owns 2,976 shares of the company’s stock, valued at approximately $941,427.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Yvonne Wassenaar sold 223 shares of Arista Networks stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $316.34, for a total value of $70,543.82. Following the completion of the transaction, the director now directly owns 2,976 shares of the company’s stock, valued at approximately $941,427.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John F. Mccool sold 584 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $281.60, for a total transaction of $164,454.40. The disclosure for this sale can be found here. Insiders have sold 414,109 shares of company stock worth $121,583,803 over the last quarter. 3.54% of the stock is owned by corporate insiders.

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.