DSM Capital Partners LLC Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

DSM Capital Partners LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 259.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,188,878 shares of the technology company’s stock after buying an additional 3,746,407 shares during the quarter. Arista Networks accounts for about 8.9% of DSM Capital Partners LLC’s holdings, making the stock its 4th biggest position. DSM Capital Partners LLC owned approximately 0.41% of Arista Networks worth $573,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ANET. Swedbank AB increased its holdings in 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 in the last quarter. WCM Investment Management LLC boosted its position in shares of Arista Networks by 292.8% during the fourth quarter. WCM Investment Management LLC now owns 6,053,181 shares of the technology company’s stock valued at $674,627,000 after buying an additional 4,512,166 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Arista Networks by 307.7% during the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after buying an additional 3,496,497 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Arista Networks by 306.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock worth $268,966,000 after buying an additional 1,835,421 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Arista Networks by 322.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,157 shares of the technology company’s stock valued at $259,557,000 after buying an additional 1,773,777 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Price Performance

NYSE:ANET opened at $111.05 on Wednesday. The company has a market capitalization of $139.89 billion, a P/E ratio of 53.39, a P/E/G ratio of 3.10 and a beta of 1.09. The business has a fifty day simple moving average of $113.95 and a two-hundred day simple moving average of $101.32. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. As a group, analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Activity

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 337,320 shares of company stock valued at $37,946,706 over the last quarter. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ANET. Piper Sandler reaffirmed a “neutral” rating and set a $105.25 price objective (up from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.59.

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.