572 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by BankPlus Trust Department

BankPlus Trust Department bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 572 shares of the technology company’s stock, valued at approximately $63,000.

Other hedge funds have also recently bought and sold shares of the company. Arkadios Wealth Advisors increased its holdings in Arista Networks by 63.1% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,303 shares of the technology company’s stock worth $884,000 after purchasing an additional 891 shares during the period. PFG Investments LLC purchased a new stake in Arista Networks during the 3rd quarter worth about $314,000. J.W. Cole Advisors Inc. increased its holdings in Arista Networks by 77.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,057 shares of the technology company’s stock worth $1,941,000 after purchasing an additional 2,206 shares during the period. Nisa Investment Advisors LLC increased its holdings in Arista Networks by 4.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 34,461 shares of the technology company’s stock worth $13,227,000 after purchasing an additional 1,610 shares during the period. Finally, Old Port Advisors increased its holdings in Arista Networks by 23.5% during the 3rd quarter. Old Port Advisors now owns 1,265 shares of the technology company’s stock worth $486,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.2 %

Shares of NYSE ANET opened at $92.85 on Wednesday. The stock has a market cap of $117.10 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.57. The business has a 50-day moving average price of $112.78 and a 200 day moving average price of $102.13.

Arista Networks (NYSE:ANET) last announced its 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. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Citigroup increased their price objective on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, UBS Group increased their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.79.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Mccool sold 288 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $108.70, for a total value of $31,305.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,224 shares of company stock valued at $30,242,856. 3.54% of the stock is owned by company insiders.

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.