Private Trust Co. NA Acquires 6,709 Shares of Arista Networks, Inc. (NYSE:ANET)

Private Trust Co. NA raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 220.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,751 shares of the technology company’s stock after acquiring an additional 6,709 shares during the quarter. Private Trust Co. NA’s holdings in Arista Networks were worth $1,078,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Caitlin John LLC grew its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont grew its position in shares of Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares in the last quarter. Finally, New Millennium Group LLC grew its position in shares of Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. Piper Sandler reissued a “neutral” rating and set a $108.00 price target (up previously from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. One equities 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.79.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the completion of the transaction, the director now owns 42,946 shares of the company’s stock, valued at approximately $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,441 shares of company stock worth $46,538,462 over the last three months. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $93.10 on Friday. The stock has a 50-day moving average of $111.80 and a two-hundred day moving average of $102.08. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The stock has a market cap of $117.41 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 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 during the quarter, compared to analysts’ expectations of $1.90 billion. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 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.