Parkside Financial Bank & Trust Buys 57 Shares of Arista Networks, Inc. (NYSE:ANET)

Parkside Financial Bank & Trust grew its stake in Arista Networks, Inc. (NYSE:ANET) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516 shares of the technology company’s stock after purchasing an additional 57 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Arista Networks were worth $122,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ANET. FMR LLC raised its position in shares of Arista Networks by 32.2% in the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Schroder Investment Management Group grew its stake in shares of Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after acquiring an additional 1,025,815 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Arista Networks by 25,188.0% in the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after acquiring an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Arista Networks by 294.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after acquiring an additional 556,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Arista Networks by 122.1% in the third quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock valued at $151,956,000 after acquiring an additional 454,146 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 1.4 %

ANET opened at $254.76 on Thursday. The company’s 50 day moving average is $279.08 and its 200-day moving average is $246.25. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The company has a market cap of $79.65 billion, a P/E ratio of 38.78, a PEG ratio of 2.15 and a beta of 1.09.

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, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business earned $1.25 EPS. On average, equities analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current year.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 980 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the transaction, the chief executive officer now owns 73,051 shares in the company, valued at approximately $19,598,852.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $940,922.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $268.29, for a total transaction of $262,924.20. Following the transaction, the chief executive officer now owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Insiders sold a total of 333,494 shares of company stock worth $95,632,321 in the last quarter. 18.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ANET has been the topic of several research reports. KeyCorp upped their price target on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

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.