Arista Networks, Inc. (NYSE:ANET) Stock Position Increased by Smithfield Trust Co

Smithfield Trust Co lifted its position in Arista Networks, Inc. (NYSE:ANET) by 144.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,065 shares of the technology company’s stock after buying an additional 2,405 shares during the period. Smithfield Trust Co’s holdings in Arista Networks were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in shares of Arista Networks by 8.7% in the third quarter. Janney Montgomery Scott LLC now owns 46,090 shares of the technology company’s stock valued at $17,690,000 after buying an additional 3,706 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in shares of Arista Networks by 57.1% in the third quarter. Catalyst Capital Advisors LLC now owns 2,160 shares of the technology company’s stock valued at $829,000 after buying an additional 785 shares in the last quarter. Moloney Securities Asset Management LLC bought a new position in shares of Arista Networks in the third quarter valued at $438,000. United Advisor Group LLC bought a new position in shares of Arista Networks in the third quarter valued at $501,000. Finally, Beacon Financial Advisory LLC boosted its position in shares of Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after purchasing an additional 30 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares of the company’s stock, valued at approximately $13,157,209.52. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,289 shares of company stock worth $51,018,617 over the last ninety days. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Up 2.7 %

Shares of NYSE:ANET opened at $87.83 on Thursday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a fifty day moving average of $110.13 and a two-hundred day moving average of $102.14. The firm has a market capitalization of $110.76 billion, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results 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 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ANET shares. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Barclays boosted their price target on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group boosted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.