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

Moody National Bank Trust Division purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,176 shares of the technology company’s stock, valued at approximately $204,000.

Other large investors have also recently modified their holdings of the company. Park Avenue Securities LLC raised its stake in shares of Arista Networks by 9.6% during the first 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 bought a new position in shares of Arista Networks during the first quarter valued at $101,000. Quadrant Capital Group LLC raised its stake in shares of Arista Networks by 44.7% during the first 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 raised its stake in shares of Arista Networks by 296.5% during the fourth 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 raised its stake in shares of Arista Networks by 1.1% during the first 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. Institutional investors own 63.82% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 165,832 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $124.51, for a total value of $20,647,742.32. Following the completion of the transaction, the chief executive officer now owns 6,311 shares of the company’s stock, valued at approximately $785,782.61. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Charles H. Giancarlo sold 6,660 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $92.70, for a total transaction of $617,382.00. Following the completion of the sale, the director now directly owns 105,606 shares in the company, valued at approximately $9,789,676.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 165,832 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $124.51, for a total transaction of $20,647,742.32. Following the sale, the chief executive officer now owns 6,311 shares of the company’s stock, valued at $785,782.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,229 shares of company stock valued at $32,746,091. Corporate insiders own 19.59% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $114.07 on Wednesday. The firm has a market cap of $34.71 billion, a price-to-earnings ratio of 35.18, a P/E/G 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. The firm’s 50-day simple moving average is $117.80 and its two-hundred day simple moving average is $114.65.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ANET shares. Rosenblatt Securities lifted their target price on shares of Arista Networks from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Arista Networks in a research note on Wednesday, August 24th. They set a “hold” rating and a $135.00 target price for the company. Cowen raised their price target on shares of Arista Networks from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. StockNews.com upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Cowen raised their price target on shares of Arista Networks from $154.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.40.

Arista Networks Company Profile

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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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