Moody National Bank Trust Division Acquires New Position in Arista Networks, Inc. (NYSE:ANET)

Moody National Bank Trust Division acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,176 shares of the technology company’s stock, valued at approximately $204,000.

Several other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its holdings in shares of Arista Networks by 9.6% during the 1st quarter. Park Avenue Securities LLC now owns 3,672 shares of the technology company’s stock valued at $510,000 after acquiring an additional 322 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Arista Networks during the 1st quarter valued at about $101,000. Quadrant Capital Group LLC boosted its holdings in shares of Arista Networks by 44.7% during the 1st quarter. Quadrant Capital Group LLC now owns 1,448 shares of the technology company’s stock valued at $201,000 after acquiring an additional 447 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Arista Networks by 296.5% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 35,533 shares of the technology company’s stock valued at $5,108,000 after acquiring an additional 26,572 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Arista Networks by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 29,939 shares of the technology company’s stock valued at $4,161,000 after acquiring an additional 319 shares during the last quarter. 63.82% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Down 0.8 %

NYSE ANET opened at $114.07 on Wednesday. The company has a fifty day moving average of $117.80 and a two-hundred day moving average of $114.65. The firm has a market capitalization of $34.71 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 1.76 and a beta of 1.33. Arista Networks, Inc. has a 52 week low of $85.18 and a 52 week high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last issued its earnings results on Monday, August 1st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $979.66 million. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The business’s revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 3.53 EPS for the current year.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research reports. Rosenblatt Securities raised their price objective on shares of Arista Networks from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Evercore ISI raised their target price on shares of Arista Networks from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Cowen lifted their price objective on shares of Arista Networks from $154.00 to $163.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Arista Networks in a report on Wednesday, August 24th. They issued a “hold” rating and a $135.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.40.

Insider Activity

In other news, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $93.14, for a total transaction of $96,865.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $102.28, for a total value of $2,045,600.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $331,796.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of Arista Networks stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $93.14, for a total value of $96,865.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,229 shares of company stock valued at $32,746,091. 19.59% of the stock is currently owned by company insiders.

Arista Networks Profile

(Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

See Also

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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