Global Trust Asset Management LLC Buys 4,780 Shares of Arista Networks, Inc. $ANET

Global Trust Asset Management LLC boosted its position in Arista Networks, Inc. (NYSE:ANET) by 33.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,273 shares of the technology company’s stock after purchasing an additional 4,780 shares during the quarter. Arista Networks makes up approximately 1.3% of Global Trust Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Global Trust Asset Management LLC’s holdings in Arista Networks were worth $2,808,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SteelPeak Wealth LLC increased its holdings in shares of Arista Networks by 23.8% during the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after acquiring an additional 7,779 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in Arista Networks by 7.8% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock worth $3,998,000 after purchasing an additional 2,815 shares during the last quarter. Vanguard Group Inc. increased its stake in Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after purchasing an additional 1,136,167 shares in the last quarter. Holocene Advisors LP acquired a new position in Arista Networks during the 2nd quarter valued at approximately $247,451,000. Finally, Three Seasons Wealth LLC purchased a new position in shares of Arista Networks in the third quarter worth $2,483,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a research note on Thursday, September 25th. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. UBS Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Finally, Barclays reiterated an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the transaction, the director owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the company’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 transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,464 shares of company stock valued at $20,494,988 in the last quarter. Company insiders own 3.39% of the company’s stock.

Arista Networks Stock Up 4.4%

Shares of ANET opened at $130.56 on Friday. The company has a market capitalization of $164.41 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 2.10 and a beta of 1.41. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The stock’s 50-day moving average price is $128.89 and its 200-day moving average price is $132.46.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business earned $2.40 earnings per share. Arista Networks’s quarterly revenue was up 27.5% on a year-over-year basis. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Profile

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.