D.A. Davidson & CO. Has $2.20 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

D.A. Davidson & CO. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 285.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,882 shares of the technology company’s stock after buying an additional 14,724 shares during the quarter. D.A. Davidson & CO.’s holdings in Arista Networks were worth $2,198,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Arista Networks by 3.8% in the 3rd quarter. State Street Corp now owns 11,237,635 shares of the technology company’s stock valued at $4,313,229,000 after buying an additional 411,109 shares during the period. Swedbank AB increased its stake in shares of Arista Networks by 293.2% during the 4th quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock worth $746,165,000 after purchasing an additional 5,034,022 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Arista Networks by 292.8% during the 4th quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock worth $674,627,000 after purchasing an additional 4,512,166 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arista Networks by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 5,871,481 shares of the technology company’s stock worth $2,246,705,000 after purchasing an additional 236,151 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Arista Networks by 307.7% during the 4th quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock worth $512,056,000 after purchasing an additional 3,496,497 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 260,056 shares of company stock valued at $30,225,623 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $98.31 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm has a fifty day moving average price of $113.94 and a two-hundred day moving average price of $101.57. The company has a market cap of $123.84 billion, a PE ratio of 44.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Analysts expect that Arista Networks, Inc. will post 2.18 earnings per share for the current fiscal year.

Arista Networks 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.