Atlantic Union Bankshares Corp Acquires 6,615 Shares of Arista Networks, Inc. (NYSE:ANET)

Atlantic Union Bankshares Corp lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 300.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,820 shares of the technology company’s stock after acquiring an additional 6,615 shares during the period. Atlantic Union Bankshares Corp’s holdings in Arista Networks were worth $975,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks during the 4th quarter worth about $242,000. GHE LLC lifted its holdings in shares of Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares during the period. Colonial River Investments LLC lifted its holdings in shares of Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 7,466 shares during the period. Unified Investment Management bought a new position in shares of Arista Networks during the 4th quarter worth about $630,000. Finally, Silver Oak Securities Incorporated lifted its holdings in Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 14,843 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ANET shares. Wells Fargo & Company lifted their price target on shares of Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley lifted 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. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Evercore ISI lifted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $83.31 on Friday. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57. The company has a 50 day moving average of $108.92 and a 200-day moving average of $102.08. The stock has a market cap of $105.07 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 3.10 and a beta of 1.08.

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

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the business’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 transaction of $31,305.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,289 shares of company stock worth $42,355,417 in the last quarter. 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.