Arista Networks, Inc. $ANET Stake Increased by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 123.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,229 shares of the technology company’s stock after buying an additional 17,236 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Arista Networks were worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in shares of Arista Networks by 33.0% during the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock worth $2,808,000 after acquiring an additional 4,780 shares in the last quarter. SteelPeak Wealth LLC raised its stake in shares of Arista Networks by 23.8% during the 2nd quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 7,779 shares in the last quarter. Penobscot Investment Management Company Inc. raised its stake in shares of Arista Networks by 7.8% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock worth $3,998,000 after purchasing an additional 2,815 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $247,451,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the sale, the insider owned 12,976 shares in the company, valued at approximately $1,668,843.36. The trade was a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,464 shares of company stock valued at $20,494,988 in the last three months. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ANET shares. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Barclays restated an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Finally, Morgan Stanley cut their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Price Performance

ANET stock opened at $127.51 on Wednesday. The stock has a market capitalization of $160.57 billion, a price-to-earnings ratio of 48.48, a price-to-earnings-growth ratio of 2.18 and a beta of 1.41. The company has a 50-day moving average of $128.50 and a two-hundred day moving average of $133.48. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.