DSG Capital Advisors LLC Makes New $5.98 Million Investment in Arista Networks, Inc. (NYSE:ANET)

DSG Capital Advisors LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 54,138 shares of the technology company's stock, valued at approximately $5,984,000. Arista Networks accounts for about 1.1% of DSG Capital Advisors LLC's investment portfolio, making the stock its 27th biggest position.

Other large investors have also recently made changes to their positions in the company. Objective Capital Management LLC lifted its position in Arista Networks by 244.0% during the 4th quarter. Objective Capital Management LLC now owns 3,516 shares of the technology company's stock worth $389,000 after acquiring an additional 2,494 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Arista Networks by 535.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 520,832 shares of the technology company's stock worth $57,568,000 after buying an additional 438,899 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Arista Networks by 346.5% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 9,538 shares of the technology company's stock worth $1,054,000 after buying an additional 7,402 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Arista Networks by 415.3% during the 4th quarter. Centaurus Financial Inc. now owns 11,775 shares of the technology company's stock worth $1,301,000 after buying an additional 9,490 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of Arista Networks during the 4th quarter worth approximately $1,376,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Redburn Atlantic assumed coverage on Arista Networks in a research note on Wednesday. They issued a "buy" rating and a $112.00 price objective for the company. UBS Group raised Arista Networks from a "neutral" rating to a "buy" rating and raised their price objective for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Rosenblatt Securities raised their price target on Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.47.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,101,013.60. This represents a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 237,538 shares of company stock valued at $20,748,219. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Performance

Arista Networks stock traded up $0.12 during midday trading on Friday, reaching $86.49. The stock had a trading volume of 16,490,789 shares, compared to its average volume of 9,049,411. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The stock has a market capitalization of $108.62 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. The stock's 50-day simple moving average is $81.89 and its 200 day simple moving average is $96.60.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm's quarterly revenue was up 27.6% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has approved a stock buyback plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

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.