Dynamic Advisor Solutions LLC Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Dynamic Advisor Solutions LLC grew 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 filing with the Securities and Exchange Commission. The institutional investor owned 22,036 shares of the technology company's stock after buying an additional 3,981 shares during the period. Dynamic Advisor Solutions LLC's holdings in Arista Networks were worth $1,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Quarry LP raised its holdings in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Arista Networks by 300.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 312 shares of the technology company's stock valued at $34,000 after acquiring an additional 234 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $35,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of ANET stock traded down $3.93 during mid-day trading on Friday, reaching $86.31. 11,682,085 shares of the company's stock traded hands, compared to its average volume of 10,807,377. The firm has a market capitalization of $108.39 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.57. The firm has a 50 day moving average price of $87.24 and a two-hundred day moving average price of $96.11.

Arista Networks (NYSE:ANET - Get Free Report) last released 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. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. Arista Networks's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now owns 7,480 shares in the company, valued at approximately $512,305.20. The trade was a 16.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.07, for a total value of $7,205,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,168,748.32. This represents a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,690 shares of company stock worth $9,360,205. 3.39% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on ANET shares. Rosenblatt Securities increased their target price on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price objective on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Needham & Company LLC started coverage on Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating for the company. UBS Group upgraded shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.