Enterprise Financial Services Corp Acquires 3,206 Shares of Arista Networks, Inc. (NYSE:ANET)

Enterprise Financial Services Corp boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 308.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,247 shares of the technology company's stock after acquiring an additional 3,206 shares during the period. Enterprise Financial Services Corp's holdings in Arista Networks were worth $469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. BOK Financial Private Wealth Inc. raised its position in Arista Networks by 254.6% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 13,300 shares of the technology company's stock valued at $1,470,000 after purchasing an additional 9,549 shares in the last quarter. Roberts Glore & Co. Inc. IL lifted its position in shares of Arista Networks by 287.0% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 32,412 shares of the technology company's stock worth $3,582,000 after buying an additional 24,037 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in Arista Networks by 300.0% in the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 9,600 shares of the technology company's stock valued at $1,061,000 after buying an additional 7,200 shares in the last quarter. Personal CFO Solutions LLC increased its position in Arista Networks by 306.7% during the 4th quarter. Personal CFO Solutions LLC now owns 4,506 shares of the technology company's stock worth $498,000 after purchasing an additional 3,398 shares in the last quarter. Finally, Atlantic Union Bankshares Corp lifted its stake in Arista Networks by 300.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 8,820 shares of the technology company's stock valued at $975,000 after purchasing an additional 6,615 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ANET shares. Piper Sandler reiterated a "neutral" rating and set a $108.00 price target (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. Barclays reiterated an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reaffirmed a "sell" rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Finally, Citigroup raised their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $114.00.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $5.83 during midday trading on Monday, reaching $77.53. The company's stock had a trading volume of 15,792,140 shares, compared to its average volume of 8,734,574. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The firm has a 50 day moving average price of $108.92 and a two-hundred day moving average price of $102.18. The firm has a market capitalization of $97.77 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the transaction, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 411,001 shares of company stock valued at $42,324,111 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

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.