Dynamic Technology Lab Private Ltd Acquires Shares of 4,579 Arista Networks, Inc. $ANET

Dynamic Technology Lab Private Ltd bought a new position in Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 4,579 shares of the technology company’s stock, valued at approximately $668,000.

Several other large investors have also recently modified their holdings of the stock. Bare Financial Services Inc lifted its position in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the last quarter. AdvisorNet Financial Inc increased its position in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. Richardson Financial Services Inc. increased its position in Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after acquiring an additional 235 shares during the period. Finally, Guerra Advisors Inc purchased a new stake in shares of Arista Networks in the third quarter valued at $41,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $137.14 on Tuesday. The company’s 50-day simple moving average is $134.51 and its 200-day simple moving average is $137.26. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The stock has a market capitalization of $172.32 billion, a P/E ratio of 49.69, a P/E/G ratio of 2.36 and a beta of 1.46.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. Arista Networks’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 price objective (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Evercore reissued an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Wells Fargo & Company upped their target price on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Finally, KeyCorp reiterated an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $176.88.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares in the company, valued at $1,373,967.12. The trade was a 44.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 1,815 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 196,237 shares of company stock valued at $25,865,760. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.