Dana Investment Advisors Inc. Buys 9,270 Shares of Arista Networks, Inc. (NYSE:ANET)

Dana Investment Advisors Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 300.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,360 shares of the technology company’s stock after purchasing an additional 9,270 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Arista Networks were worth $1,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Concurrent Investment Advisors LLC raised its holdings in shares of Arista Networks by 33.1% during the third quarter. Concurrent Investment Advisors LLC now owns 2,787 shares of the technology company’s stock valued at $1,070,000 after acquiring an additional 693 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Arista Networks by 9.3% during the third quarter. Principal Financial Group Inc. now owns 339,556 shares of the technology company’s stock valued at $130,328,000 after acquiring an additional 29,006 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Arista Networks during the third quarter valued at approximately $141,000. Fiera Capital Corp raised its holdings in shares of Arista Networks by 9.2% during the third quarter. Fiera Capital Corp now owns 34,430 shares of the technology company’s stock valued at $13,215,000 after acquiring an additional 2,900 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Arista Networks by 0.6% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 129,578 shares of the technology company’s stock valued at $49,704,000 after acquiring an additional 729 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,289 shares of company stock valued at $42,355,417 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 1.2 %

NYSE ANET opened at $83.31 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The stock has a market cap of $105.07 billion, a P/E ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08. The stock’s fifty day moving average price is $108.92 and its 200-day moving average price is $102.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group increased their price objective on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Evercore ISI increased their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.