Davidson Kahn Capital Management LLC Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Davidson Kahn Capital Management LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,920 shares of the technology company's stock, valued at approximately $986,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock valued at $10,620,270,000 after acquiring an additional 72,311,318 shares during the last quarter. FMR LLC lifted its position in shares of Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after purchasing an additional 44,269,572 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after buying an additional 18,293,874 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after purchasing an additional 14,454,822 shares during the last quarter. Finally, Norges Bank bought a new stake in Arista Networks during the fourth quarter worth $1,397,833,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Down 0.2 %

Shares of NYSE ANET traded down $0.15 during midday trading on Tuesday, hitting $90.23. The company had a trading volume of 4,579,616 shares, compared to its average volume of 9,150,130. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The firm has a market capitalization of $113.29 billion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The business has a 50-day simple moving average of $79.03 and a two-hundred day simple moving average of $97.62.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ANET. Piper Sandler reduced their target price on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays restated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their price target for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.36.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the sale, the senior vice president now owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 412,355 shares of company stock valued at $39,259,279. Corporate insiders own 3.54% of the company's stock.

About Arista Networks

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.