20,060 Shares of Arista Networks, Inc. $ANET Acquired by First Nebraska Trust Co

First Nebraska Trust Co bought a new stake in Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,060 shares of the technology company’s stock, valued at approximately $4,084,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IPG Investment Advisors LLC increased its position in Arista Networks by 6.5% in the third quarter. IPG Investment Advisors LLC now owns 2,118 shares of the technology company’s stock worth $431,000 after buying an additional 130 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its position in Arista Networks by 3.5% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 12,646 shares of the technology company’s stock worth $2,575,000 after purchasing an additional 433 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in shares of Arista Networks in the third quarter worth about $3,117,000. BOCHK Asset Management Ltd increased its stake in shares of Arista Networks by 52.3% in the third quarter. BOCHK Asset Management Ltd now owns 40,200 shares of the technology company’s stock worth $8,184,000 after purchasing an additional 13,800 shares in the last quarter. Finally, Greenfield Seitz Capital Management LLC increased its stake in shares of Arista Networks by 1.1% in the third quarter. Greenfield Seitz Capital Management LLC now owns 23,243 shares of the technology company’s stock worth $4,732,000 after purchasing an additional 251 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks News Roundup

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Third-quarter earnings were $1.20 per share versus the $1.08 consensus, while revenue of $3.66 billion exceeded the $3.33 billion estimate and rose 58.5% year over year. The company said revenue growth was its strongest since its IPO, and operating margin widened. Article: Arista Networks Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management’s fourth-quarter outlook was characterized as strong, supporting expectations for continued demand for Arista’s networking products amid AI and data-center expansion. Article: Arista Networks Stock Pops on Q3 Earnings Beat, Strong Q4 Guidance
• Negative Sentiment: Gross margin slipped as product sales made up a larger share of revenue, and coverage flagged a slower pace of growth in the fourth-quarter outlook. These trends could raise questions about the durability of margin gains and rapid growth. Article: Arista Revenue Up 58% as Q4 Outlook Slows

Arista Networks Stock Up 3.3%

Shares of NYSE ANET opened at $169.58 on Wednesday. The stock’s 50-day simple moving average is $194.30 and its two-hundred day simple moving average is $165.10. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The firm has a market capitalization of $213.88 billion, a P/E ratio of 53.49, a P/E/G ratio of 1.91 and a beta of 1.61.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the company posted $0.75 EPS. The business’s quarterly revenue was up 58.5% on a year-over-year basis. As a group, research analysts anticipate that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore reiterated an “outperform” rating on shares of Arista Networks in a research note on Monday. Barclays restated an “overweight” rating and set a $289.00 target price (up from $195.00) on shares of Arista Networks in a research report on Wednesday, August 5th. UBS Group reiterated a “buy” rating and issued a $259.00 price target (up from $187.00) on shares of Arista Networks in a research report on Wednesday, August 5th. TD Cowen reduced their price target on Arista Networks from $250.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Finally, Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $232.95.

Insiders Place Their Bets

In other news, CFO Chantelle Breithaupt sold 1,224 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total value of $263,160.00. Following the completion of the sale, the chief financial officer owned 68,697 shares of the company’s stock, valued at approximately $14,769,855. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Templeton sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $204.37, for a total value of $1,021,850.00. Following the completion of the sale, the director owned 48,410 shares of the company’s stock, valued at $9,893,551.70. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,487,846 shares of company stock valued at $503,417,253 over the last three months. 2.70% of the stock is currently owned by company insiders.

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company’s products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.

Arista’s portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.