102,280 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Avalon Trust Co

Avalon Trust Co acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 102,280 shares of the technology company’s stock, valued at approximately $11,305,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. one8zero8 LLC acquired a new position in Arista Networks during the fourth quarter worth $4,863,000. Choate Investment Advisors raised its holdings in shares of Arista Networks by 335.4% in the fourth quarter. Choate Investment Advisors now owns 4,833 shares of the technology company’s stock worth $534,000 after acquiring an additional 3,723 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Arista Networks by 320.0% in the fourth quarter. Natixis Advisors LLC now owns 1,615,932 shares of the technology company’s stock worth $178,609,000 after acquiring an additional 1,231,232 shares during the last quarter. M & L Capital Management Ltd acquired a new position in shares of Arista Networks in the fourth quarter worth $35,591,000. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Arista Networks by 302.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 7,803 shares of the technology company’s stock worth $862,000 after acquiring an additional 5,862 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the completion of the transaction, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ANET shares. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Price Performance

Shares of NYSE ANET opened at $83.58 on Friday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The business has a 50-day moving average of $105.75 and a 200-day moving average of $101.82. The company has a market capitalization of $105.41 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last released 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 return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.