Equitable Trust Co. Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Equitable Trust Co. lifted its position in Arista Networks, Inc. (NYSE:ANET) by 2,594.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,404 shares of the technology company’s stock after buying an additional 40,830 shares during the quarter. Equitable Trust Co.’s holdings in Arista Networks were worth $4,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. Swedbank AB raised its stake in Arista Networks by 293.2% in the fourth quarter. Swedbank AB now owns 6,750,793 shares of the technology company’s stock valued at $746,165,000 after purchasing an additional 5,034,022 shares in the last quarter. WCM Investment Management LLC raised its stake in Arista Networks by 292.8% in 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 purchasing an additional 4,512,166 shares in the last quarter. Jennison Associates LLC raised its stake in Arista Networks by 307.7% in the fourth quarter. Jennison Associates LLC now owns 4,632,730 shares of the technology company’s stock valued at $512,056,000 after purchasing an additional 3,496,497 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Arista Networks by 306.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,433,425 shares of the technology company’s stock valued at $268,966,000 after purchasing an additional 1,835,421 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Arista Networks by 473.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,326,274 shares of the technology company’s stock valued at $146,593,000 after purchasing an additional 1,094,910 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent research reports. Rosenblatt Securities increased their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Piper Sandler reiterated a “neutral” rating and set a $105.25 price target (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Trading Up 2.8 %

Shares of Arista Networks stock opened at $118.52 on Monday. The business has a fifty day simple moving average of $113.21 and a two-hundred day simple moving average of $99.91. The firm has a market capitalization of $149.31 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. Analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, insider John F. Mccool sold 6,340 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the completion of the sale, the insider now directly owns 288 shares in the company, valued at $28,391.76. The trade was a 95.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is owned by insiders.

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.