Truist Financial Corp Has $4.30 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Truist Financial Corp lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 51.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,256 shares of the technology company’s stock after selling 19,655 shares during the quarter. Truist Financial Corp’s holdings in Arista Networks were worth $4,299,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ANET. Pinnacle Associates Ltd. bought a new stake in Arista Networks in the 3rd quarter valued at about $208,000. Raymond James & Associates boosted its stake in shares of Arista Networks by 0.3% in the third quarter. Raymond James & Associates now owns 158,390 shares of the technology company’s stock valued at $29,133,000 after buying an additional 397 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Arista Networks by 16.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,642 shares of the technology company’s stock worth $3,981,000 after buying an additional 3,005 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in Arista Networks by 7.6% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,607 shares of the technology company’s stock worth $296,000 after acquiring an additional 114 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in Arista Networks in the 3rd quarter valued at $33,000. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Piper Sandler increased their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. KeyCorp boosted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company boosted their price target on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.53.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 1,044 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total value of $265,739.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Marc Taxay sold 1,044 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Mccool sold 420 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 335,974 shares of company stock worth $96,252,685. 18.99% of the stock is currently owned by insiders.

Arista Networks Stock Up 4.8 %

Shares of NYSE:ANET opened at $274.40 on Monday. The firm has a market cap of $85.79 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The business has a fifty day simple moving average of $279.07 and a 200 day simple moving average of $250.02.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) 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 the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, equities research analysts expect that Arista Networks, Inc. will post 6.74 EPS for the current year.

Arista Networks Company Profile

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.