54,138 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by DSG Capital Advisors LLC

DSG Capital Advisors LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 54,138 shares of the technology company’s stock, valued at approximately $5,984,000. Arista Networks comprises approximately 1.1% of DSG Capital Advisors LLC’s holdings, making the stock its 27th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitlin John LLC boosted its stake in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its stake in 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 acquiring an additional 191 shares in the last quarter. New Millennium Group LLC increased its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Quarry LP raised its position in shares of Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 206 shares in the last quarter. Finally, Dunhill Financial LLC increased its position in shares of Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 1.4%

NYSE ANET opened at $92.50 on Wednesday. The firm has a market capitalization of $116.17 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 3.10 and a beta of 1.38. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The business’s 50-day moving average price is $81.73 and its two-hundred day moving average price is $96.81.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its board has approved a stock buyback plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,492 shares of the company’s 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 sale, the director now owns 7,480 shares of the company’s stock, valued at $512,305.20. This represents a 16.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the completion of the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 237,538 shares of company stock valued at $20,748,219 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Barclays lowered their price objective on shares of Arista Networks from $126.00 to $119.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Morgan Stanley lifted their price target on shares of Arista Networks from $73.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Rosenblatt Securities raised their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.14.

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.