Arista Networks, Inc. $ANET Shares Bought by Global Trust Asset Management LLC

Global Trust Asset Management LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 33.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,273 shares of the technology company’s stock after buying an additional 4,780 shares during the quarter. Arista Networks accounts for 1.3% of Global Trust Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Global Trust Asset Management LLC’s holdings in Arista Networks were worth $2,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its position in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after acquiring an additional 5,955 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $202,000. Bison Wealth LLC purchased a new stake in shares of Arista Networks during the fourth quarter worth about $251,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Arista Networks by 21.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 4,089 shares of the technology company’s stock worth $418,000 after purchasing an additional 732 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in Arista Networks in the 2nd quarter valued at about $980,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 4.4%

Shares of ANET opened at $130.56 on Friday. The firm has a 50-day moving average price of $128.89 and a 200 day moving average price of $132.46. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a market capitalization of $164.41 billion, a P/E ratio of 49.64, a P/E/G ratio of 2.10 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ANET shares. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. UBS Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Finally, BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $128.61, for a total value of $3,858,300.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,668,843.36. This represents a 69.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 160,464 shares of company stock valued at $20,494,988. 3.39% of the stock is currently owned by insiders.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.