Dorsey & Whitney Trust CO LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Dorsey & Whitney Trust CO LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,710 shares of the technology company’s stock after buying an additional 144 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Arista Networks were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. NBC Securities Inc. lifted its holdings in Arista Networks by 21.5% during the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock valued at $62,000 after purchasing an additional 38 shares in the last quarter. Sandy Spring Bank lifted its holdings in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Arista Networks by 6.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its holdings in Arista Networks by 1.8% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after purchasing an additional 40 shares in the last quarter. Finally, West Family Investments Inc. lifted its holdings in Arista Networks by 3.3% during the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANET. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays boosted their target price on shares of Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $320.00 in a report on Friday, May 3rd. Wells Fargo & Company boosted their target price on shares of Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $323.50.

Insider Activity

In other news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 223 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $316.34, for a total transaction of $70,543.82. Following the completion of the sale, the director now directly owns 2,976 shares of the company’s stock, valued at $941,427.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,076 shares of company stock valued at $68,928,479. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

ANET stock traded down $2.04 during mid-day trading on Friday, reaching $330.59. 1,354,089 shares of the stock traded hands, compared to its average volume of 2,446,170. Arista Networks, Inc. has a one year low of $149.10 and a one year high of $376.50. The stock has a market capitalization of $103.59 billion, a PE ratio of 46.04, a PEG ratio of 2.97 and a beta of 1.11. The business has a 50-day moving average price of $329.48 and a two-hundred day moving average price of $291.65.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.55 billion. On average, equities analysts expect that Arista Networks, Inc. will post 7.06 earnings per share for the current fiscal year.

Arista Networks announced that its board has approved a stock buyback plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the technology company to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board 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.