Argent Trust Co Has $1.41 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Argent Trust Co boosted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 289.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,750 shares of the technology company's stock after purchasing an additional 9,480 shares during the quarter. Argent Trust Co's holdings in Arista Networks were worth $1,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Caitlin John LLC grew its position in shares of 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 buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock worth $29,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC boosted its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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Arista Networks Stock Performance

Shares of NYSE ANET traded down $0.60 during midday trading on Wednesday, reaching $72.60. 2,901,076 shares of the company's stock were exchanged, compared to its average volume of 9,103,240. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $133.58. The business's fifty day moving average price is $87.06 and its two-hundred day moving average price is $99.81. The stock has a market capitalization of $91.56 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.90 billion. Analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the transaction, the director now directly owns 155,784 shares of the company's stock, valued at $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ANET shares. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. Rosenblatt Securities restated a "sell" rating and issued a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. Piper Sandler decreased their price target on Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley cut their target price on shares of Arista Networks from $118.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup dropped their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $104.29.

Arista Networks 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.