Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 301.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,269 shares of the technology company’s stock after acquiring an additional 17,479 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Arista Networks were worth $2,572,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stock Yards Bank & Trust Co. acquired a new stake in Arista Networks in the 4th quarter valued at $242,000. Silver Oak Securities Incorporated boosted its holdings in Arista Networks by 395.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after acquiring an additional 14,843 shares during the period. CENTRAL TRUST Co raised its stake in shares of Arista Networks by 475.5% during the fourth quarter. CENTRAL TRUST Co now owns 4,184 shares of the technology company’s stock valued at $462,000 after purchasing an additional 3,457 shares during the period. Triasima Portfolio Management inc. boosted its stake in shares of Arista Networks by 371.3% in the fourth quarter. Triasima Portfolio Management inc. now owns 78,487 shares of the technology company’s stock valued at $8,675,000 after purchasing an additional 61,833 shares during the period. Finally, GW Henssler & Associates Ltd. increased its stake in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after buying an additional 2,219 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now directly owns 42,946 shares in the company, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 255,832 shares of company stock valued at $28,538,497. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group boosted their price target on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Evercore ISI increased their price objective 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. Piper Sandler restated a “neutral” rating and issued a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Rosenblatt Securities upped their price objective on Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Finally, Morgan Stanley boosted their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Price Performance

Shares of ANET stock opened at $118.52 on Friday. The business has a 50 day simple moving average of $113.21 and a 200 day simple moving average of $99.81. The firm has a market capitalization of $149.31 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth 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 issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks, Inc. will post 1.97 EPS for the current fiscal 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.