Caldwell Trust Co Purchases New Position in Arista Networks, Inc. $ANET

Caldwell Trust Co purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 44,739 shares of the technology company’s stock, valued at approximately $4,577,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Arista Networks during the 2nd quarter worth approximately $1,228,177,000. AQR Capital Management LLC increased its position in Arista Networks by 153.8% during the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock worth $584,119,000 after buying an additional 4,678,372 shares during the period. Nordea Investment Management AB increased its position in Arista Networks by 193.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after buying an additional 4,656,021 shares during the period. Holocene Advisors LP acquired a new stake in shares of Arista Networks during the second quarter worth $247,451,000. Finally, Amundi boosted its position in shares of Arista Networks by 35.3% in the first quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after acquiring an additional 2,240,045 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $128.61, for a total value of $3,858,300.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,668,843.36. This represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 58,000 shares of Arista Networks stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $148.42, for a total transaction of $8,608,360.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 274,464 shares of company stock valued at $38,250,488. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC lifted their price target on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Melius Research increased their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Wells Fargo & Company raised their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.31.

Arista Networks Price Performance

Shares of ANET opened at $124.83 on Monday. The firm has a 50 day simple moving average of $138.96 and a two-hundred day simple moving average of $126.92. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company has a market cap of $157.20 billion, a P/E ratio of 47.46, a P/E/G ratio of 2.39 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company posted $2.40 EPS. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.