Amalgamated Bank Has $25.03 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Amalgamated Bank grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 284.6% during the 4th quarter, HoldingsChannel reports. The firm owned 226,464 shares of the technology company’s stock after acquiring an additional 167,575 shares during the quarter. Amalgamated Bank’s holdings in Arista Networks were worth $25,031,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ANET. Stock Yards Bank & Trust Co. acquired a new position in Arista Networks in the fourth quarter valued at about $242,000. GHE LLC increased its position in shares of Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock worth $3,136,000 after acquiring an additional 21,597 shares in the last quarter. Colonial River Investments LLC boosted its holdings in Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in shares of Arista Networks by 395.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 18,593 shares of the technology company’s stock worth $2,072,000 after purchasing an additional 14,843 shares during the last quarter. Finally, Proactive Wealth Strategies LLC lifted its holdings in shares of Arista Networks by 387.6% during the fourth quarter. Proactive Wealth Strategies LLC now owns 6,120 shares of the technology company’s stock worth $676,000 after buying an additional 4,865 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Down 5.8 %

Shares of Arista Networks stock opened at $92.61 on Tuesday. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm’s 50 day simple moving average is $113.18 and its two-hundred day simple moving average is $102.07. The firm has a market capitalization of $116.79 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research report on Wednesday, February 19th. Rosenblatt Securities reissued a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research report on Tuesday, February 18th. Barclays lifted their price objective on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. UBS Group upped their price objective on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group increased their price objective on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total value of $8,663,200.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. This represents a 86.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 260,056 shares of company stock valued at $30,225,623. Insiders own 3.54% of the company’s stock.

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.