First American Bank Acquires 10,762 Shares of Arista Networks, Inc. (NYSE:ANET)

First American Bank increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 303.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,314 shares of the technology company’s stock after purchasing an additional 10,762 shares during the quarter. First American Bank’s holdings in Arista Networks were worth $1,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fielder Capital Group LLC lifted its stake in Arista Networks by 298.0% in the 4th quarter. Fielder Capital Group LLC now owns 4,867 shares of the technology company’s stock worth $538,000 after purchasing an additional 3,644 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Arista Networks by 257.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,182 shares of the technology company’s stock worth $241,000 after purchasing an additional 1,571 shares during the last quarter. Bouchey Financial Group Ltd purchased a new stake in shares of Arista Networks in the fourth quarter worth about $201,000. Financial Security Advisor Inc. boosted its stake in Arista Networks by 304.9% during the fourth quarter. Financial Security Advisor Inc. now owns 3,288 shares of the technology company’s stock valued at $363,000 after buying an additional 2,476 shares during the last quarter. Finally, Hilltop Partners LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. Hilltop Partners LLC now owns 3,180 shares of the technology company’s stock valued at $351,000 after buying an additional 2,385 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 5.1 %

NYSE ANET opened at $91.50 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s 50-day moving average price is $112.19 and its 200-day moving average price is $102.02. The stock has a market cap of $115.40 billion, a PE ratio of 41.22, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ANET. Piper Sandler reaffirmed a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley increased their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 17,433 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $93.14, for a total value of $1,623,709.62. Following the completion of the sale, the insider now owns 17,433 shares of the company’s stock, valued at approximately $1,623,709.62. This represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on 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 directly owns 12,976 shares in the company, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 416,008 shares of company stock worth $44,854,958 in the last ninety days. 3.54% of the stock is owned by company 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.