Dynamic Advisor Solutions LLC Has $1.71 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Dynamic Advisor Solutions LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 22.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,036 shares of the technology company's stock after acquiring an additional 3,981 shares during the period. Dynamic Advisor Solutions LLC's holdings in Arista Networks were worth $1,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. RMR Wealth Builders grew its position in Arista Networks by 0.6% in the 1st quarter. RMR Wealth Builders now owns 30,642 shares of the technology company's stock valued at $2,374,000 after buying an additional 180 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the last quarter. Fragasso Financial Advisors Inc raised its stake in Arista Networks by 4.4% in the 1st quarter. Fragasso Financial Advisors Inc now owns 4,645 shares of the technology company's stock valued at $360,000 after purchasing an additional 196 shares during the last quarter. Quarry LP raised its stake in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares during the last quarter. Finally, Dunhill Financial LLC raised its stake in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of ANET traded up $0.44 during trading hours on Thursday, reaching $90.12. 9,161,198 shares of the company's stock traded hands, compared to its average volume of 9,023,160. The firm has a market capitalization of $113.18 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 2.65 and a beta of 1.37. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $133.58. The business's fifty day simple moving average is $87.24 and its two-hundred day simple moving average is $96.11.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The business had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter last year, the business posted $0.50 earnings per share. The company's quarterly revenue was up 27.6% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has authorized a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $68.49, for a total transaction of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares of the company's stock, valued at $512,305.20. This trade represents a 16.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $88.58, for a total value of $708,640.00. Following the completion of the transaction, the director now owns 131,784 shares of the company's stock, valued at $11,673,426.72. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,690 shares of company stock valued at $9,360,205 over the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ANET. Evercore ISI dropped their price objective on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC initiated coverage on Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating for the company. KGI Securities cut Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price for the company. in a research note on Wednesday, June 11th. Finally, Citigroup upped their price target on Arista Networks from $97.00 to $112.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.38.

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.