Trust Investment Advisors Increases Position in Arista Networks, Inc. (NYSE:ANET)

Trust Investment Advisors lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 275.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,342 shares of the technology company’s stock after buying an additional 1,718 shares during the quarter. Trust Investment Advisors’ holdings in Arista Networks were worth $259,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC lifted its position in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares in the last quarter. Caitlin John LLC lifted its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. Finally, New Millennium Group LLC raised its position in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $86.87 on Wednesday. The business has a 50 day simple moving average of $101.47 and a two-hundred day simple moving average of $101.98. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The firm has a market capitalization of $109.55 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANET. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Erste Group Bank downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 in the last 90 days. Company insiders own 3.54% of the company’s stock.

About Arista Networks

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.