Dohj LLC Takes Position in Arista Networks, Inc. (NYSE:ANET)

Dohj LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,665 shares of the technology company’s stock, valued at approximately $392,000.

Several other hedge funds also recently modified their holdings of the stock. Fulton Breakefield Broenniman LLC grew its holdings in shares of Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after acquiring an additional 40 shares in the last quarter. Headlands Technologies LLC bought a new position in Arista Networks during the fourth quarter worth about $230,000. Absolute Capital Management LLC bought a new position in Arista Networks during the fourth quarter worth about $330,000. Motley Fool Asset Management LLC grew its holdings in Arista Networks by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 9,185 shares of the technology company’s stock worth $2,163,000 after purchasing an additional 544 shares during the period. Finally, VCI Wealth Management LLC bought a new position in Arista Networks during the fourth quarter worth about $246,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $0.06 during trading on Friday, hitting $264.70. The company’s stock had a trading volume of 2,521,905 shares, compared to its average volume of 2,317,526. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The stock has a market cap of $83.01 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. The stock has a 50-day moving average price of $279.09 and a two-hundred day moving average price of $246.85.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the transaction, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the transaction, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the transaction, the chief executive officer now owns 1,665,300 shares in the company, valued at approximately $504,585,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 333,494 shares of company stock valued at $95,632,321. 18.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ANET shares. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 8th. The Goldman Sachs Group lifted their price target on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler boosted their price objective on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

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.