Dakota Wealth Management Has $1.47 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Dakota Wealth Management trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 78.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,927 shares of the technology company's stock after selling 70,505 shares during the quarter. Dakota Wealth Management's holdings in Arista Networks were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in Arista Networks by 63.5% during the first quarter. SBI Securities Co. Ltd. now owns 36,278 shares of the technology company's stock worth $2,811,000 after buying an additional 14,091 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of Arista Networks by 34.4% during the first quarter. Apollon Wealth Management LLC now owns 43,874 shares of the technology company's stock valued at $3,399,000 after purchasing an additional 11,219 shares during the last quarter. Hohimer Wealth Management LLC bought a new stake in shares of Arista Networks during the first quarter valued at approximately $4,198,000. Signaturefd LLC grew its stake in shares of Arista Networks by 6.9% during the first quarter. Signaturefd LLC now owns 24,095 shares of the technology company's stock valued at $1,867,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Arista Networks during the first quarter valued at approximately $6,372,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

ANET traded down $0.41 during mid-day trading on Friday, hitting $111.57. The stock had a trading volume of 2,015,532 shares, compared to its average volume of 10,668,064. The stock's fifty day simple moving average is $96.68 and its 200-day simple moving average is $94.99. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.57. The firm has a market capitalization of $140.12 billion, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 3.16 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm's revenue was up 27.6% compared to the same quarter last year. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Barclays decreased their price target on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Needham & Company LLC initiated coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday. Finally, KeyCorp initiated coverage on shares of Arista Networks in a report on Thursday, June 26th. They issued an "overweight" rating and a $115.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus price target of $111.40.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 748,444 shares of Arista Networks stock in a transaction on Monday, June 30th. The shares were sold at an average price of $102.43, for a total value of $76,663,118.92. Following the sale, the chief executive officer directly owned 30,000 shares in the company, valued at approximately $3,072,900. The trade was a 96.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $92.23, for a total transaction of $2,397,980.00. Following the completion of the sale, the senior vice president owned 592,400 shares in the company, valued at $54,637,052. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,123,370 shares of company stock valued at $113,157,408 over the last quarter. Corporate insiders own 3.39% of the company's stock.

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.