Enterprise Financial Services Corp Has $469,000 Position in Arista Networks, Inc. (NYSE:ANET)

Enterprise Financial Services Corp lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 308.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,247 shares of the technology company’s stock after purchasing an additional 3,206 shares during the period. Enterprise Financial Services Corp’s holdings in Arista Networks were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation N.A. lifted its position in Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the last quarter. Intellectus Partners LLC grew its stake in Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares during the last quarter. Altman Advisors Inc. grew its stake in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares during the last quarter. Anchor Investment Management LLC grew its stake in Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its stake in Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now directly owns 163,784 shares in the company, valued at approximately $18,263,553.84. The trade was a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 411,289 shares of company stock valued at $42,355,417 in the last ninety days. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Down 1.2 %

Shares of ANET stock opened at $83.31 on Friday. The business has a 50-day moving average price of $108.92 and a two-hundred day moving average price of $102.08. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a market cap of $105.07 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.90 billion. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ANET. Piper Sandler reiterated a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Wells Fargo & Company upped their target price on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group upped their target price on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One 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. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $114.00.

About Arista Networks

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.