Peapack Gladstone Financial Corp Has $6.42 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Peapack Gladstone Financial Corp lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 300.1% during the 4th quarter, HoldingsChannel reports. The fund owned 58,048 shares of the technology company’s stock after purchasing an additional 43,538 shares during the period. Peapack Gladstone Financial Corp’s holdings in Arista Networks were worth $6,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc bought a new stake in shares of Arista Networks during the third quarter worth about $123,000. EP Wealth Advisors LLC bought a new stake in Arista Networks during the 3rd quarter worth approximately $6,100,000. iA Global Asset Management Inc. bought a new stake in Arista Networks during the 3rd quarter worth approximately $2,961,000. National Bank of Canada FI increased its position in Arista Networks by 46.0% in the 3rd quarter. National Bank of Canada FI now owns 186,429 shares of the technology company’s stock valued at $71,555,000 after acquiring an additional 58,718 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Arista Networks by 0.8% during the third quarter. Orion Portfolio Solutions LLC now owns 12,723 shares of the technology company’s stock valued at $4,883,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares in the company, valued at approximately $10,840,249.20. The trade was a 5.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,001 shares of company stock valued at $39,362,831 over the last ninety days. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Down 9.8 %

Shares of NYSE ANET opened at $64.28 on Monday. The firm has a market capitalization of $81.07 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.10 and a beta of 1.30. The firm’s 50-day moving average price is $94.01 and its 200-day moving average price is $101.37. Arista Networks, Inc. has a 1-year low of $57.80 and a 1-year high of $133.58.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ANET shares. 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. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Evercore ISI boosted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Company 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.