Blue Trust Inc. Buys 599 Shares of Arista Networks, Inc. (NYSE:ANET)

Blue Trust Inc. lifted its stake in Arista Networks, Inc. (NYSE:ANETFree Report) by 1,274.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 646 shares of the technology company’s stock after acquiring an additional 599 shares during the period. Blue Trust Inc.’s holdings in Arista Networks were worth $152,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ANET. AXQ Capital LP acquired a new position in Arista Networks during the 3rd quarter valued at about $791,000. Advisor Resource Council increased its position in Arista Networks by 507.9% during the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after buying an additional 5,866 shares in the last quarter. Cambridge Trust Co. increased its position in Arista Networks by 70.1% during the 3rd quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock valued at $9,243,000 after buying an additional 20,704 shares in the last quarter. Banque Pictet & Cie SA increased its position in Arista Networks by 7.1% during the 3rd quarter. Banque Pictet & Cie SA now owns 5,617 shares of the technology company’s stock valued at $1,033,000 after buying an additional 374 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in Arista Networks during the 4th quarter valued at about $1,171,000. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 23,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $296.24, for a total value of $6,813,520.00. Following the completion of the transaction, the chief executive officer now owns 1,651,800 shares of the company’s stock, valued at approximately $489,329,232. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 23,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $296.24, for a total transaction of $6,813,520.00. Following the completion of the transaction, the chief executive officer now owns 1,651,800 shares of the company’s stock, valued at $489,329,232. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $249.00, for a total value of $4,980,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $807,756. The disclosure for this sale can be found here. In the last 90 days, insiders sold 305,628 shares of company stock valued at $85,753,347. 18.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. Wells Fargo & Company boosted their price target on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group boosted their price target on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Check Out Our Latest Analysis on Arista Networks

Arista Networks Trading Down 2.9 %

NYSE ANET opened at $291.02 on Wednesday. The stock has a market capitalization of $90.98 billion, a price-to-earnings ratio of 44.30, a PEG ratio of 2.50 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The stock has a 50-day moving average of $277.08 and a 200 day moving average of $235.88.

Arista Networks (NYSE:ANETGet Free Report) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Equities analysts predict that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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