Parkside Financial Bank & Trust Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Parkside Financial Bank & Trust increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 12.4% during the fourth quarter, Holdings Channel reports. The firm owned 516 shares of the technology company’s stock after acquiring an additional 57 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Arista Networks were worth $122,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ANET. Larson Financial Group LLC purchased a new position in Arista Networks in the 3rd quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth approximately $29,000. BluePath Capital Management LLC purchased a new stake in shares of Arista Networks during the 3rd quarter worth approximately $33,000. NBC Securities Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth approximately $33,000. Finally, Atticus Wealth Management LLC raised its holdings in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 980 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the transaction, the chief executive officer now owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 980 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the transaction, the chief executive officer now directly owns 73,051 shares in the company, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Insiders have sold 333,494 shares of company stock valued at $95,632,321 in the last quarter. 18.99% of the stock is owned by insiders.

Arista Networks Stock Up 1.4 %

Shares of Arista Networks stock opened at $254.76 on Thursday. The stock’s fifty day moving average is $279.08 and its two-hundred day moving average is $246.25. The company has a market capitalization of $79.65 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANET. Piper Sandler upped their price objective on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. The Goldman Sachs Group upped their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $275.59.

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.