American Trust Buys 5,862 Shares of Arista Networks, Inc. $ANET

American Trust lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 49.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,671 shares of the technology company’s stock after buying an additional 5,862 shares during the quarter. American Trust’s holdings in Arista Networks were worth $1,808,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ANET. Penobscot Investment Management Company Inc. lifted its position in shares of Arista Networks by 7.8% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after buying an additional 2,815 shares in the last quarter. Vanguard Group Inc. raised its stake in Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after acquiring an additional 1,136,167 shares during the period. Soltis Investment Advisors LLC lifted its holdings in Arista Networks by 99.3% during the second quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after purchasing an additional 20,141 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Arista Networks in the second quarter worth approximately $212,000. Finally, OMNI 360 Wealth Inc. increased its stake in shares of Arista Networks by 71.5% in the second quarter. OMNI 360 Wealth Inc. now owns 4,804 shares of the technology company’s stock worth $491,000 after purchasing an additional 2,003 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ANET. Morgan Stanley set a $171.00 target price on shares of Arista Networks and gave the company an “overweight” rating in a research note on Friday, October 10th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Wolfe Research increased their target price on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Piper Sandler reissued a “neutral” rating and set a $145.00 target price (up previously from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Melius Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of Arista Networks stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 274,464 shares of company stock valued at $38,250,488 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE:ANET opened at $124.83 on Monday. The company has a market cap of $157.20 billion, a price-to-earnings ratio of 47.46, a PEG ratio of 2.39 and a beta of 1.41. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The stock’s 50 day simple moving average is $138.96 and its two-hundred day simple moving average is $126.92.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm posted $2.40 earnings per share. Arista Networks’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current 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.