Dana Investment Advisors Inc. Purchases 105 Shares of Arista Networks, Inc. (NYSE:ANET)

Dana Investment Advisors Inc. increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,195 shares of the technology company’s stock after purchasing an additional 105 shares during the period. Dana Investment Advisors Inc.’s holdings in Arista Networks were worth $1,120,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. GQG Partners LLC bought a new stake in Arista Networks in the first quarter worth $881,848,000. Swedbank AB purchased a new stake in shares of Arista Networks in the first quarter valued at $521,767,000. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the period. Ameriprise Financial Inc. grew its holdings in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 0.1 %

Arista Networks stock opened at $389.92 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $395.82. The business has a fifty day moving average of $350.01 and a two-hundred day moving average of $323.05. The firm has a market cap of $122.19 billion, a P/E ratio of 54.31, a P/E/G ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. Equities analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 628 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,361 shares of company stock valued at $20,523,830 in the last 90 days. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp boosted their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Barclays lifted their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group boosted their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.81.

Arista Networks Company 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.