Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Dunhill Financial LLC

Dunhill Financial LLC increased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 2,317.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,358 shares of the technology company's stock after purchasing an additional 6,095 shares during the period. Dunhill Financial LLC's holdings in Arista Networks were worth $493,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ANET. Capital Advisors Ltd. LLC boosted its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after buying an additional 191 shares in the last quarter. Quarry LP boosted its position in shares of Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Arista Networks by 300.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock worth $34,000 after purchasing an additional 234 shares during the period. McIlrath & Eck LLC acquired a new position in shares of Arista Networks during the 4th quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $37,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at $10,840,249.20. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,168,748.32. This trade represents a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,690 shares of company stock valued at $9,360,205 over the last ninety days. Corporate insiders own 3.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ANET. BNP Paribas Exane downgraded Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a research report on Wednesday, June 11th. Rosenblatt Securities lifted their target price on shares of Arista Networks from $85.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Erste Group Bank lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 17th. The Goldman Sachs Group cut their price objective on Arista Networks from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup upped their target price on Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $107.38.

Arista Networks Trading Down 5.7%

Shares of ANET opened at $89.67 on Wednesday. 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 $112.62 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 2.79 and a beta of 1.37. The stock's fifty day simple moving average is $86.61 and its 200 day simple moving average is $96.24.

Arista Networks (NYSE:ANET - Get Free Report) last released 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 30.48% and a net margin of 40.72%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $0.50 EPS. The company's quarterly revenue was up 27.6% compared to the same quarter last year. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.

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