Stock Yards Bank & Trust Co. acquired a new position in Arista Networks, Inc. (NYSE:ANET – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,192 shares of the technology company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont raised its stake in Arista Networks by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. New Millennium Group LLC raised its stake in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Westside Investment Management Inc. increased its holdings in Arista Networks by 1,012.0% in the 4th quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares during the period. Finally, Costello Asset Management INC increased its holdings in Arista Networks by 300.0% in the 4th quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after buying an additional 225 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the topic of several analyst reports. Rosenblatt Securities boosted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a report on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Piper Sandler reissued a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $105.83.

View Our Latest Stock Analysis on Arista Networks

Arista Networks Stock Down 0.3 %

Shares of NYSE:ANET opened at $115.11 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s 50-day moving average price is $112.58 and its two-hundred day moving average price is $99.48. The firm has a market cap of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 20.0% on a year-over-year basis. As a group, equities analysts predict that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at $1,537,266.72. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 255,832 shares of company stock worth $28,538,497. Company insiders own 3.54% of the company’s stock.

Arista Networks Company Profile

(Free Report)

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.

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