CHICAGO TRUST Co NA Raises Stake in Arista Networks, Inc. $ANET

CHICAGO TRUST Co NA boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 108.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,401 shares of the technology company’s stock after purchasing an additional 4,884 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Arista Networks were worth $1,370,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its position in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares in the last quarter. Fragasso Financial Advisors Inc boosted its holdings in Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after acquiring an additional 76 shares in the last quarter. Stablepoint Partners LLC grew its stake in shares of Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after acquiring an additional 77 shares during the last quarter. Glenview Trust co increased its holdings in shares of Arista Networks by 2.5% during the second quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock valued at $358,000 after acquiring an additional 84 shares in the last quarter. Finally, Telos Capital Management Inc. raised its position in shares of Arista Networks by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock worth $947,000 after purchasing an additional 88 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 5.4%

NYSE:ANET opened at $131.29 on Friday. The company has a market cap of $165.33 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41. The company has a 50 day simple moving average of $136.26 and a two-hundred day simple moving average of $127.94. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on ANET shares. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Piper Sandler reiterated a “neutral” rating and set a $145.00 price target (up previously from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. Morgan Stanley reduced their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup upped their price objective on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Wells Fargo & Company lifted their target price on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.56.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the transaction, the director owned 25,784 shares in the company, valued at $3,302,672.56. This trade represents a 23.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 216,464 shares of company stock valued at $28,598,588. Insiders own 3.39% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.